According to The Miner Mag, the bitcoin mining industry is under pressure to make a profit. Network hashrate climbed to a record 1.16 ZH/s in October, but the price of bitcoin fell to around $81,000, causing the hashprice to drop below $35/PH/s, below the median of $45/PH/s for listed miners, some of which are close to breaking even.
The payback period for mining machines has been extended to more than 1,200 days, and financing costs continue to rise. Despite the accelerated shift to AI and high-performance computing (HPC), the related revenue still cannot make up for the sharp decline in bitcoin mining revenue.
However, shares of the top 10 listed miners rose across the board on Monday after JPMorgan raised price targets for CleanSpark, Cipher Mining and IREN, which in November signed a five-year, $9.70 billion GPU Cloud as a Service deal with Microsoft.
Bitcoin mining economy deteriorates: Hashrate hits new high but currency price falls
2025-11-25 03:21:23
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