The hashprice, a crucial indicator of miner revenue, is currently at a near five-year low of $44.00 per petahash per second (PH/s). This figure is only slightly higher than the August 2024 low of $44.00 PH/s, when bitcoin was priced at $49,000. Despite bitcoin now trading at around $84,000, miner revenue remains low. The recent halving event, which reduced rewards by half, has contributed to this situation. Additional pressures include increased competition, higher mining difficulty, reduced transaction revenue, and rising energy costs. At the current hashprice, miners can still break even, depending on their equipment, but profits are far from the highs seen in 2021. The Valkyrie Bitcoin Miners ETF (WGMI) has fallen 50% year-to-date, compared to a 10% drop in bitcoin’s value, highlighting the challenging conditions in the mining sector. Some miners are shifting their computing power to other areas, such as artificial intelligence, to seek alternative revenue streams.
Chris
@StonkChris
·
3h $WGMI 1W – Pretty good risk/reward here for this Bitcoin miner ETF.At the bottom of the HTF pitchfork with RSI on the floor.Again, I would stay away from individual miner names and just buy the ETF if you are bullish on the space.
LiLi Storm X
@LiLiStormX
·
Apr 17 Miners actively dumped BTC in March — more than 40% of what was mined was sold! This is the maximum since October 2023.
Reasons:
Fall in mining income
Minuscule fees (only 1.1% in a block)
Increased costs of equipment upgrades Companies like HIVE and Bitfarms even
Cryptoklepto
@CK_Cryptoklepto
·
Jan 30 GrayScale launched a new $BTC Miner ETF $MNRSTop holdings by weight are $MARA and $RIOTAlso included are $CORZ $CLSK $IREN $HUT $CIFR $APLD and $WULF
𝑴𝒓. 𝑩𝒊𝒍𝒍𝒊𝒐𝒏𝒂𝒊𝒓𝒆
@mr_cbillionaire
·
Feb 8 BREAKING: $DROP Team has announced a 1 Point = 1 Token System i.e users are Mining Tokens not points.With this news and the view on Leaderboard, one can say that this project is highly Under-Mined3 Days is enough for some people to collect as much points as their capacity
Grayscale
@Grayscale
·
Jan 30 Introducing the Grayscale Bitcoin Miners ETF (ticker: $MNRS)$MNRS offers investors targeted, pure-play exposure to #Bitcoin Miners and the Bitcoin Mining Industry, available directly in your investment account.Learn more about $MNRS: http://etfs.grayscale.com/mnrs
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