According to Jinse Finance, TheMinerMag reports that the Bitcoin mining industry is experiencing the most severe profit contraction in 15 years, with hash prices falling to a structural low of about $35/PH/s. The recoup investment period for new generation mining rigs has extended to over 1000 days, while the next Halving is only about 850 days away. As profitability worsens, mining companies are starting to deleverage, and CleanSpark has fully repaid its Bitcoin collateralized credit line. Mining company stocks have also fallen sharply, with MARA, CleanSpark, Riot, and HIVE seeing declines between 32% and 54% since mid-October.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
Report: Bitcoin Mining Enters "Worst Profit Cycle in History", Mining Companies Under Pressure
According to Jinse Finance, TheMinerMag reports that the Bitcoin mining industry is experiencing the most severe profit contraction in 15 years, with hash prices falling to a structural low of about $35/PH/s. The recoup investment period for new generation mining rigs has extended to over 1000 days, while the next Halving is only about 850 days away. As profitability worsens, mining companies are starting to deleverage, and CleanSpark has fully repaid its Bitcoin collateralized credit line. Mining company stocks have also fallen sharply, with MARA, CleanSpark, Riot, and HIVE seeing declines between 32% and 54% since mid-October.