Bitcoin Mining: Record Low Revenue and Dumped BTC as Hashrate Soars

The hash rate of the Bitcoin network has reached new highs, surpassing 414 exahashes per second (EH/s), indicating increased network security. However, Bitcoin miners are struggling with plummeting profitability, as the revenue per terahash per second per day has fallen to record lows, reaching levels not seen since November 2022. The current revenue of $0.060 per terahash per second per day is around half of what it was in early May. Miners are relying on stock sales and debt to stay afloat, but market analysts suggest that prices need to adjust upwards to maintain profitability at such high hash rates.