Bitcoin mining drop reach post-halving low as weather waka and weak price dey hit miners
Bad winter power cuts and falling BTC price don push Bitcoin mining activity and profits go down reach post‑halving low. CryptoQuant data show network hashrate drop about 12% (reach multi‑month low) after region power cuts, and daily miner revenue waka from about $45M to roughly $28M in two days before e small recover to ~$34M by Jan 26. Big public miners combine production fall from ~77 BTC/day to ~28 BTC/day; other operators fall from ~403 BTC/day to ~209 BTC/day — na the sharpest 30‑day contraction since the last halving. CryptoQuant Miner Profit/Loss Sustainability Index touch 21, the weakest reading since Nov 2024. Difficulty cuts across five epochs give only small relief and production cost estimates (including electricity) still well above spot BTC prices, squeezing margins. Causes: extreme weather outages for US (risk concentrated), high network difficulty, falling BTC price (near $77,364 at report), higher energy and hardware costs, and leveraged liquidations (~$300M). Well‑capitalized miners wey get energy arbitrage, own power, or curtailment deals don contain losses and see equity gains; small, less efficient operators dey face existential pressure, wey fit increase consolidation and hashpower centralization risk. Short‑term signs of recovery include rebounding hashrate and rising exchange open interest, but if price remain weak miners stress go continue and fit boost BTC volatility. Traders suppose monitor BTC price action, miner revenues, hashrate swings, difficulty adjustments, production‑cost estimates, liquidation flows, and spot ETF flows as near‑term drivers of volatility and possible structural market shifts.
Bearish
Di reports dem show say BTC price fit go down for both short and medium term. Big drop for hashrate and miner revenue don collapse, e sharp make small miners wey dey use leverage fit begin sell anyhow — this kain move fit add selling pressure for market when miners dey liquidate holdings or equities to cover cost. High production cost compared to spot price dey squeeze miner margins and fit make some shut down or join others, wey go raise centralization risk but e no go support price sharpaly. Short‑term small relief (small hashrate rebound, open interest wey dey rise, and difficulty cuts) fit reduce immediate stress, but main drivers still be falling BTC prices and higher operating costs; if price stabilize or recover, miner stress go calm down and selling pressure go reduce. If price remain weak, miner capitulation go continue and likely push BTC price lower. Traders suppose expect more volatility around difficulty adjustments, miner revenue reports, liquidation events, and ETF flows — mostly downside risks until price clear stabilize.