Rising BTC mining costs and falling prices threaten miner survival

Rising Bitcoin mining costs and falling prices are threatening the survival of miners and straining the entire mining rig supply chain, Cointelegraph reported. The Bitcoin hash price, a key profitability metric representing the expected daily revenue per petahash per second (PH/s), recently fell to around $42. This marks a steady decline from its July level of $62 per PH/s. In connection with this trend, TheMinerMag noted that the continued drop in the hash price is forcing some miners to consider shutting down their operations, casting a shadow over the equipment market. Some rig producers, such as Bitdeer, are opting for self-mining instead of selling their hardware to cope with a lack of demand. TheMinerMag added that a growing number of Bitcoin miners are pivoting to AI and high-performance computing data centers due to declining profit margins, rising equipment and energy costs, and intensifying competition.