Bitcoin Mining Wahala: Hash Price Fall Reach ~28$, 20% Miners No Dey Make Any Profit
CoinShares talk say di Bitcoin mining crisis dey get worse as hash price don fall to about $28 (near di lowest since di 2024 halving). Dem modeling show say about 20% of miners dey on zero profitability—dem dey cover operating costs but no dey make profit—while about 80% still dey profitable but margins don tight.
Di report talk about a “perfect storm”: weaker post-halving BTC price compared to past cycles, network difficulty don rise to new highs, and power costs still high. Di hit no even. Older ASIC miners (specially S19 series and before) and places wey get higher power price dey most vulnerable, while newer rigs for low-cost areas fit still stay profitable.
Hash price na di key variable: if e drop, miners must cut costs or face losses. CoinShares also warn say if BTC weakness continue, inefficient rigs wey dem retire fit slow hashrate growth until difficulty adjust. For traders, dis fit raise short-term risk of extra supply pressure from struggling operators, but difficulty readjustment process fit stabilize mining economics over time. Watch BTC price direction, hashrate growth pace, and public mining-company disclosures for consolidation signals.
Bearish
CoinShares dey highlight say hash price don low, wey dey push about 20% of Bitcoin miners enter zero profitability and dey squeeze margins for the rest. This one fit make stressed operators sell more for short term, wey fit weigh down BTC sentiment. But difficulty readjustments and miner efficiency changes fit help stabilize mining economics later, so the effect na more about near-term risk and gradual stress rather than immediate structural bullish reversal for BTC.