As reported by Blockbeats, Bitcoin miners are struggling as their 7-day average revenue dropped 35% to $40 million amid a price decline below $90,000. Miners earn fixed protocol-based rewards but face fluctuating operational costs, primarily electricity. At current hash rates, each TH/s generates only 3.6 cents per day. While top miners like Marathon and Riot remain profitable with cash costs below $50,000 per Bitcoin, accounting costs including depreciation and stock compensation often exceed $100,000 per Bitcoin. Many miners are now holding their Bitcoin rather than selling to avoid losses.
Bitcoin Miners Face 35% Revenue Drop as Profit Margins Shrink
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