BUSINESSTHE BLOCK
Bitcoin miners face deepening margin squeeze as revenue falls below production costs
Bitcoin miners are experiencing reduced profitability as revenue drops below production costs, with an estimated 20% now operating at a loss. This financial strain is also evident at the network level.
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Adjacent reporting
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- Live markets: Bitcoin has traded below its mining cost for five months, squeezing miners
- JPMorgan: Bitcoin Mining Costs Have ‘Worsened’ as BTC Trades Below Production Cost
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- Core Scientific shares slip after bitcoin miner swings to Q1 net loss despite higher revenue