
Small-Scale Bitcoin Miners Amid Geopolitics: Survive or Be Squeezed Out in the High-Price Era?
Background In July 2025, Bitcoin’s price surged to the $117,000–$121.487 range, driven by institutional adoption—including $4.5 billion in Bitcoin ETF inflows—and supply constraints due to widespread HODLing. However, small-scale miners—individuals or small operations using ASIC rigs or joining mining pools—face immense