What to know:
- Hashprice, that cruel mistress of miner income, flirts dangerously close to a five-year nadir, revealing the Sisyphean plight of the mining gladiators.
- Though Bitcoin struts about at a princely $84,000, miner revenue waltzes downward—victimized by halving and the ravenous beast of operational costs.
- The Valkyrie Bitcoin Miners ETF has taken a somber 50% bow year-to-date, a melodramatic encore to the mining tragedy.
Ah, Hashprice! The soothsayer metric, whispering the fortunes of miners per petahash (PH/s) — a number that fancies itself in U.S. dollars or the more elusive BTC, making accountants sigh in dual indecision. Presently, it dangles at a meek $44.00 PH/s, only a toe’s length above its pitiful August 2024 abyss, when Bitcoin itself flirted with $49,000 amidst the yen’s melodramatic exit.
And yet here we are, with Bitcoin prancing at a lofty $84,000, while miners grin thinly through shrinking profits. One might say the mining business is less “rags to riches” and more “rags to… slightly less rags,” thanks to the halving gremlin snipping rewards by half, the ever-paranoid competitors, the mining difficulty that loves to play hard to get, declining transaction fees, and energy bills that could make a monarch weep.
Yet, fear not entirely, for at this whimsical $44.00 PH/s threshold—dependent, of course, on the miner’s mechanical steed—there’s still the faintest hope of breakeven, a ghostly echo of the boisterous bull runs of 2021.
Gaze into the crystal ball, dear reader, and you shall see more storms brewing: stagnant Bitcoin whims, geopolitics with the subtlety of a fireworks display, and tariffs lurking like uninvited guests, all conspiring to add a few more bricks to the miners’ uphill climb.
The Valkyrie Bitcoin Miners ETF (WGMI) illustrates this comedic tragedy perfectly, halving its value while Bitcoin merely tiptoed down by 10%, a stark reminder that the mining opera is not for the faint-hearted.
Sensible miners, wise beyond their circuitry, are now moonlighting—turning their processing prowess towards the charming world of artificial intelligence. Because when life gives you halving, why not hash some algorithms instead? 🤖
Read More
- Who Is Abby on THE LAST OF US Season 2? (And What Does She Want with Joel)
- DEXE/USD
- Summoners War Tier List – The Best Monsters to Recruit in 2025
- DC: Dark Legion The Bleed & Hypertime Tracker Schedule
- All Hidden Achievements in Atomfall: How to Unlock Every Secret Milestone
- ‘Did Not Expect To See That Fiery Bully’: Hell’s Kitchen Alums Recall ‘sharp-tongued’ Gordon Ramsey’s Behavior On Set
- Yellowstone 1994 Spin-off: Latest Updates & Everything We Know So Far
- ‘I’m So Brat Now’: Halle Berry Reveals If She Would Consider Reprising Her Catwoman Character Again
- Fact Check: Did Lady Gaga Mock Katy Perry’s Space Trip? X Post Saying ‘I’ve Had Farts Longer Than That’ Sparks Scrutiny
- To Be Hero X: Everything You Need To Know About The Upcoming Anime
2025-04-20 20:41