According to a report by TheMinerMag, as reported by Odaily Odaily, the Bitcoin mining industry is experiencing its most severe profit contraction in 15 years, with hash rates falling to a structural low of approximately $35/PH/s. The payback period for next-generation mining rigs has extended to over 1000 days, while the next halving is only about 850 days away. As profitability deteriorates, mining companies are deleveraging, with CleanSpark having fully repaid its Bitcoin collateralized credit line. Mining stocks have also plummeted, with MARA, CleanSpark, Riot, and HIVE experiencing declines ranging from 32% to 54% since mid-October.
Report: Bitcoin mining enters its worst profit cycle in history, putting mining companies under widespread pressure.
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