Bitcoin Plunge Hits Miners Hard
Recently, the sharp decline in Bitcoin's price has left miners worldwide in a difficult position. According to data released by Antpool, the majority of mining equipment is now operating at a loss, with only a few exceptions.
Only a Few Miners Still Profitable
Among all mining machines, the Antminer S23 Hydro performed best, generating an average daily revenue of $18.53. Meanwhile, the earlier Antminer S21 barely stays in the black with only $0.12 per day.
Losses Becoming the Norm
At the same time, the Whatsminer M63S sees an average daily loss of $0.47, highlighting the harsh reality for most mining operations. As Bitcoin's price continues to fluctuate, miners may need to reassess their equipment strategies and investment decisions.
- Bitcoin price drop impacts miner earnings
- Antminer S23 Hydro remains one of the few profitable models
- Majority of mining machines now in loss
- Operators must reevaluate mining strategies