CoinShares says up to 20% of Bitcoin miners are unprofitable
CoinShares reports that up to 20% of Bitcoin miners are currently unprofitable due to the ongoing decline in Bitcoin prices and rising energy costs. The analysis highlights that many miners are struggling to cover their operational expenses, particularly those with older or less efficient equipment. The report suggests that this situation could lead to a consolidation in the mining industry, as weaker players may be forced to exit the market. Additionally, the profitability of mining is expected to fluctuate further as market conditions evolve.
Read the full article: Coin Telegraph