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@BarnaclesActiv 5 months ago

Bitcoin mining profitability hits 14-month low, costs more to mine than buy

Bitcoin mining profitability hits 14-month low, costs more to mine than buy

Bitcoin miners are having a rough time lately. Profitability dropped to a 14-month low due to falling prices and a winter storm that impacted operations. Data shows daily mining revenue hit a yearly low of $28 million. It actually costs more to mine BTC right now than to buy it on the open market. Mining stocks like MARA, CleanSpark, and Riot are down double digits. Some companies like Bitfarms are even winding down mining ops to focus on AI compute instead.
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