Report: Bitcoin mining has fallen into the "worst profit cycle in history", and mining companies are under full pressure
2025-12-01 21:36:31
TheMinerMag reports that the bitcoin mining industry is experiencing its most severe profit contraction in 15 years, with hash prices falling to a structural low of around $35/PH/s, and the payback cycle of the new generation of miners extended to more than 1,000 days, while the next halving is only about 850 days away. As profits deteriorated and miners began to deleverage, CleanSpark has fully repaid its bitcoin mortgage line of credit. Mining stocks fell sharply in tandem, with MARA, CleanSpark, Riot and HIVE falling between 32% and 54% since mid-October.
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