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Bitcoin miners shaken by worsening profitability as bitcoin selling surges

Listed bitcoin mining firms sold more than 32,000 BTC in the first quarter of 2026, exceeding the total sold in all of 2025, Cointelegraph reported. Mining profitability has deteriorated, with hashprice falling below $35 per PH/s per day, near a break-even level for many operators. Industry reserves have declined to about 1.8 million BTC. CoinShares expects further capitulation by high-cost miners if prices do not recover.

Crypto

Cosmos ecosystem Leap Wallet to end service in May

Leap Wallet, a non-custodial wallet in the Cosmos ecosystem, will end operations of its software suite on May 28, The Block reported. The shutdown covers its browser extension, iOS and Android apps, Leap web app, Swapfast exchange platform and the Leap Cosmos Hub validator. Users who delegated ATOM to the validator must redelegate to keep staking rewards. Users can still access assets via recovery phrases or private keys in other wallets.

Crypto

Oil at $105 a barrel emerges as bitcoin plunge signal; will this time be different

As international oil prices rise above $105 a barrel to the highest level in about four years, attention is on whether bitcoin will face a sharp correction as in past instances. Cointelegraph cited three cases when WTI traded above $105 and bitcoin fell within weeks: once in 2014 and twice in 2022, with declines of 14 percent to 27 percent. The analysis cautioned the sample is small and other factors may have driven those moves.