Bitcoin miners just hit their toughest profitability crisis on record. Here's what happened: BTC's sharp November nosedive dragged hashrate revenue from around $55 per petahash per second in Q3 all the way down to approximately $35/PH/s. The problem? That's sitting well below the $44/PH/s median all-in cost that major public mining operations are dealing with. Margins are getting brutally squeezed right now.
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Bitcoin miners just hit their toughest profitability crisis on record. Here's what happened: BTC's sharp November nosedive dragged hashrate revenue from around $55 per petahash per second in Q3 all the way down to approximately $35/PH/s. The problem? That's sitting well below the $44/PH/s median all-in cost that major public mining operations are dealing with. Margins are getting brutally squeezed right now.