Bitcoin mining revenues are not stable because of the volatility of Bitcoin. This forces miners to turn off their rigs during a bear run.
Bitcoin ecosystem is heavily dependent on the speculative value of Bitcoin rather than it being used as a transactional payment system.
The Bitcoin ecosystem is not growing as fast as other projects. This means that SHA256 miner revenues are not growing as fast as they should or could potentially start dropping as other projects gain market-share.
Bitcoin is not heavily integrated into smart contracts and DeFi.
Jax.Network is a Bitcoin merge-mined, scalable blockchain that houses a native stablecoin (JAX coin) that is backed by Bitcoin hashrate.
This stablecoin ecosystem should allow miners to generate additional sustainable revenues making it profitable for miners to continue merge-mining all year round.
A stablecoin that is backed by Bitcoin hashrate would greatly improve the utility of the Bitcoin network and result in higher revenues for miners.
A Bitcoin based scalable stablecoin could serve as a better alternative to USDT, USDC, DAI etc. and integrate Bitcoin heavily into the DeFi and programmable money (i.e. smart contracts) ecosystem. The main value addition of such a stablecoin is that it eliminates counterparty risk.