Bitcoin News
By Maheen Hernandez
1 / 11
Bitcoin miners are currently facing significant challenges as the network’s hashprice stabilizes at $48 per petahash per second (PH/s), despite increasing mining difficulty and…
2 / 11
Bitcoin mining has become increasingly difficult for miners due to a combination of factors.
3 / 11
A critical issue for miners has been the slump in transaction fee income. As of March 24, transaction fees accounted for only 1.
4 / 11
Outdated Equipment Faces Profitability Pressure
5 / 11
Older-generation mining machines, like the Antminer S19 XP and S19 Pro, are struggling to stay profitable at the current hashprice. These rigs now yield as little as $0.088 and $0.
6 / 11
In contrast, newer rigs, such as the Antminer S21 Hyd, are still performing better, generating over $4.50 in daily earnings.
7 / 11
Bitcoin’s protocol adjusts mining difficulty every 2,016 blocks, based on the network’s performance over the previous two weeks.
8 / 11
According to Will Baxter, EVP at Braiins, the increase in difficulty is based on past network activity, not the current slowdown in hashrate.
9 / 11
There may be some short-term relief for miners, as the next difficulty adjustment, scheduled for April 7, 2025, is projected to drop by 4.3% to 108.86 trillion.
10 / 11
Looking further ahead, the upcoming Bitcoin halving event, expected within the next year, will reduce block rewards and add additional pressure on miners.
11 / 11
Bitcoin miners are currently operating in a challenging environment, with a steady hashprice of $48, rising mining difficulty, and shrinking transaction fee income.
The Currency Analytics
Want the full story?