As Bitcoin recently retreated to around $62,000, on-chain activity has slowed, and Bitcoin miner profits have fallen to a record low, sparking market concerns over potential selling pressure. Luxor Hashrate Index data shows that on Tuesday, the estimated daily mining revenue per TH/s has plummeted to a historic low of $0.028 (from $0.039 last month); for example, using the Antminer S21 XP Hydro (with electricity costs calculated at $0.07 per kWh), its estimated monthly gross profit has decreased from $192 last month to $137. Glassnode data indicates that since early May, the 14-day average net position change of miner and mining pool addresses has continued to turn negative. (Cointelegraph)

BTC0.55%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned