Report: Bitcoin Miners Currently Facing the Most Challenging Profitability Environment Ever

BlockBeats News, December 2nd, according to Miner Weekly, Bitcoin miners are currently facing the most challenging profit environment in history. The significant price drop of Bitcoin in November has led to a decline in mining revenue per unit of hash power from around $55/PH/s in the third quarter to around $35/PH/s, below the average all-in cost of major publicly traded mining rigs at $44/PH/s.

With the network hash rate approaching 1.1 ZH/s, the cost per hash reflects the actual earnings under the current mining difficulty. Even with the latest mining rigs, the payback period exceeds 1000 days, much longer than the approximately 850 days before the next halving.