Cryptocurrencies, blockchain, NFT and new trends

Ripe for the squeeze? Bitcoin mining stocks remain under attack from short sellers


Driven by heightened demand for Bitcoin (BTC) blockspace, fueled by Ordinals inscriptions and the PEPE-fueled BRC-20 memecoin mania, miners have become direct beneficiaries of a sudden boom in transaction fees which has been increasing their bottom lines.

This surge has resulted in an unprecedented increase in the average number of transactions, and consequently revenue per BTC block mined.

Bitcoin average fee paid per block. Source: GlassnodeDaily Revenue of Bitcoin Miners. Source: CoinMetricsRIOT and MARA price charts. Source: TradingViewYear-to-date returns of RIOT, MARA, and BTC. Source: TradingViewMarathon Digital Holdings short interest data. Source: fintel.ioRiot Platforms short interest data. Source: fintel.ioMARA price chart. Source: TradingViewRIOT price chart. Source: TradingView

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