Crypto Stocks: Hash Rate Collapse Is A Windfall For Bitcoin Miners - We're Bullish

The global bitcoin network hash rate has collapsed to a 1-year low following the latest China crackdown on crypto mining forcing production to go offline.Bitcoin mining companies with operations outside of China benefit from a higher share of the network reward adding to current production capacity and implied revenues.While the hash rate will likely normalize higher over time, setup is bullish for crypto stocks as a near-term windfall balancing out what have been weaker price trends.