Bitcoin miners are facing dire conditions as miner revenue plummets even with Bitcoin's price around $84,000. The recent halving event has halved the rewards, while rising operational costs and increased competition add further strain. The key metric, hashprice, is near a five-year low at $44.00 PH/s, making it challenging for miners to sustain profitability, especially in comparison to the 2021 bull run. The Valkyrie Bitcoin Miners ETF has decreased by 50% year-to-date, correlating with the overall decline of the mining sector. Miners are adapting by reallocating computing power to alternate revenue streams like artificial intelligence, addressing the impact of rising mining difficulties and decreasing transaction revenue. Future market conditions appear uncertain, with geopolitical factors potentially influencing mining operations.

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