Bitcoin miners are feeling the heat - and the pain's rippling downstream to pressure prices.

The cryptocurrency's spectacular rally in 2021 drew thousands of entrants into mining, or producing new coin. As a result the hashrate, or combined computational power used by bitcoin miners globally, has roughly quadrupled over the past six months to blow past 200 million "terahashes" per second.

© Reuters/MAXIM SHEMETOVFILE PHOTO: A view shows the data centre of BitRiver company providing services f...

The recent rise and rise of the cryptocurrency market followed by a crash has reinforced the distrust and defiance of Main Street, which still equates the entire crypto sphere with bitcoin, despite the growing popularity of NFTs - essentially a line of blockchain code, the platform upon which all cryptos are coded, that represents a one-of-a-kind object.

"Bitcoin is very volatile. It's very risky," said Hank Boyd, professor of marketing in the Business department at University of Maryland. He ...

Over the past 24 hours, Ethereum's (CRYPTO: ETH) price has risen 3.72% to $4,796.15. This continues its positive trend over the past week where it has experienced a 12.0% gain, moving from $4,291.42 to its current price. As it stands right now, the coin's all-time high is $4,798.49.

© Provided by BenzingaEthereum Breaks New ATH

The chart below compares the price movement and volatility for Ethereum over the past 24 hours (left) to its price movement over the past week (right). The gray bands a...