As reported by CoinEdition, Bitcoin mining in the U.S. has entered a 'survivorship phase' as median mining costs ($44/PH/s) have surpassed revenue ($35/PH/s), forcing miners to operate at a loss. November data shows a structural inversion in mining economics, with daily block reward gross profit falling 26% in October. The network’s hashrate dropped 1% to 1,074 EH/s, and miners generated $41,400 per EH/s in November, a 14% monthly decline. The combined market value of 14 U.S.-led miners fell 16% to $59 billion. Meanwhile, Q4 is expected to be the largest debt-raising quarter for the sector, with miners securing over $5 billion in senior secured notes.
Bitcoin Miners Enter 'Survivorship Phase' as Margins Collapse and Costs Exceed Revenue
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