Bitcoin miners are experiencing financial strain as Bitcoin's price falls below $90,000, impacting their revenue streams. Despite a fixed protocol income, miners face variable operational costs, notably electricity expenses. Over the last two months, the 7-day average revenue for miners has decreased by 35% to $40 million. With a global hash rate of 1,078 EH/s, each TH/s now generates only 3.6 cents daily.
While major players like Marathon Digital and Riot Platforms remain profitable, many miners are operating near or below break-even levels when considering depreciation, impairment, and stock-based compensation. As the price continues to decline, more miners are opting to hold onto their Bitcoin rather than sell, which is helping to maintain system stability for the time being.
Bitcoin Miners Under Pressure as Price Dips Below $90,000
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