According to Cryptofrontnews, Bitcoin miners are under severe financial pressure as the hashprice dropped to $35/PH/s, below the $44/PH/s median all-in cost. New mining rigs now require over 1,000 days to break even, surpassing the 850-day window before the next halving. Canaan and SynVista are advancing a renewable mining plan, while miners increased high-cost debt in Q4. The downturn followed a sharp BTC price drop in November, pushing hashprice to structural lows and exposing structural stress in the industry. Public miners raised $3.5 billion in Q3 debt through near-zero coupon convertibles, with additional $1.4 billion in equity. CleanSpark repaid its Coinbase-backed credit line after raising over $1 billion in Q3 convertibles.
Bitcoin Miners Face Record Margin Pressure as Hashprice Hits $35/PH/s
CryptofrontnewsShare
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.