The cost of mining a single Bitcoin in the US has surged to $17,000 in 2023, driven by soaring electricity rates. This comes alongside the FDIC's assessment of Signature Bank's collapse due to poor management and risk practices. Meanwhile, the IRS plans to issue crypto tax guidance within the next 12 months, signaling a potential shift in regulatory approaches.
The crypto market is facing uncertainty as the Total Crypto Market Cap and Bitcoin struggle to clear resistance levels. SingularityNET (AGIX) is also at risk of breaking down from a bullish pattern, adding to the market's overall volatility.