20% of BTC miners now at zero profitability, analysis finds

Hash price, a metric for the expected daily revenue per unit of hash power, fell to $28 last month, its lowest level since the halving, according to an analysis by CoinShares. Cointelegraph reported on CoinShares' first-quarter mining report, which found that worsening profitability has pushed miners with older equipment or high electricity costs below their break-even points. Approximately 20% of miners are now operating at zero profitability. The report also suggested that if Bitcoin's price weakness persists, the retirement of inefficient mining rigs could slow the growth of the network's hashrate.