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Bitcoin mining economy worsens: Computing Power hits new highs but coin price falls

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According to ChainCatcher news and a report from The Miner Mag, the Bitcoin mining industry is facing profit pressure. In October, the network Computing Power surged to a record 1.16 ZH/s, but the price of Bitcoin fell to around 81,000 USD, causing the hashprice to drop below 35 USD/PH/s, which is lower than the median of 45 USD/PH/s for listed mining companies, with some miners approaching breakeven. The payback period for mining machines has been extended to over 1,200 days, and financing costs continue to rise. Although mining companies are accelerating their shift towards AI and high-performance computing (HPC), the related revenues still cannot make up for the significant decline in Bitcoin mining income. However, after JPMorgan raised the target prices for CleanSpark, Cipher Mining, and IREN, the stock prices of the top ten listed mining companies rose across the board on Monday. IREN signed a five-year, $9.7 billion GPU cloud services agreement with Microsoft in November.

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GateUser-f209f3d3vip
· 16h ago
快enter a position!🚗
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GateUser-f209f3d3vip
· 16h ago
快enter a position!🚗
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