Bitcoin mining profits compressed to historic lows, industry enters survival selection phase
According to ChainCatcher, Miner Weekly reports that due to a significant BTC correction, unit hash rate revenue has dropped from $55 to $35 per PH/s, which is already below the median total cost of approximately $44 per PH/s for listed mining companies.
The total network hash rate is approaching 1.1 ZH/s, causing the payback period for the latest mining machines to exceed 1,000 days, which is longer than the countdown to the next halving. Recently, CleanSpark repaid its bitcoin-collateralized loan and raised over $1 billion in financing. Cipher, Terawulf, and others collectively raised over $5 billion in Q4. Mining companies are generally shifting towards deleveraging and liquidity preservation, and the industry is entering a new round of survival selection.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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