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Bitcoin Mining ETF Expects Industry Shakeout From Energy Surge

  • ETF price touches all-time low after sanctions are set
  • Mining difficulty drops for the first time since December
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Surging energy costs are likely to lead to a consolidation within the Bitcoin mining community, according to the largest ETF operator focusing directly on the sector. 

“It is going to hit the least efficient miners the hardest eventually,” said Josh Olszewicz, head of research at Valkyrie Funds, a Nashville, Tennessee-based investment firm in digital assets. “If the electricity cost keeps rising, that’d prevent them from mining with as much profitability.”