Bitcoin Miners Fight For Survival As Margins Squeeze – Bitcoin Magazine

The bitcoin mining industry continues to exhibit a broad range of activity stretching from rapid expansion to extreme capitulation as the price of bitcoin falls below $19,000 amid rising hash rate.

During the month of August, Digihost Technology Inc. mined 69 BTC valued around $3.4 million which noted a 54% increase year-over-year (YoY). However, the company also canceled stock options for many officers within the company, plans to issue an additional 19,391 subordinate voting shares at $6.54 each, and sold BTC in order to “avoid equity dilution for its shareholders”.