Bitcoin miners face the toughest profitability period in history
In November, Bitcoin’s price drop reduced hashrate profitability from $55 per PH/s in the third quarter to $35 per PH/s. This is below the average cost of $44 per PH/s for large publicly traded mining companies.
Source The Minermag
This indicates significant challenges for Bitcoin miners, potentially leading to industry restructuring or the search for new cost-cutting solutions. The sector’s future depends heavily on cryptocurrency price trends and technological advancements.
Further declines in profitability may force some companies to cease operations or adopt more efficient mining technologies.
