On December 2, according to Miner Weekly, Bitcoin miners are currently facing the most difficult profit environment in history. The significant pullback in Bitcoin prices in November caused computing power revenue to drop from about $55/PH/s in the third quarter to about $35/PH/s, below the average total cost of major public mining rigs at $44/PH/s. As the network computing power approaches 1.1 ZH/s, the cost per hash better reflects the actual earnings under the current mining difficulty. Even the latest mining rigs have an investment recovery period exceeding 1000 days, which is much longer than the approximately 850 days before the next halving.
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Report: Bitcoin miners are currently facing the toughest profit environment in history.
On December 2, according to Miner Weekly, Bitcoin miners are currently facing the most difficult profit environment in history. The significant pullback in Bitcoin prices in November caused computing power revenue to drop from about $55/PH/s in the third quarter to about $35/PH/s, below the average total cost of major public mining rigs at $44/PH/s. As the network computing power approaches 1.1 ZH/s, the cost per hash better reflects the actual earnings under the current mining difficulty. Even the latest mining rigs have an investment recovery period exceeding 1000 days, which is much longer than the approximately 850 days before the next halving.