Miner profitability per terahash drops to $0.28, raising concerns over potential sell pressure amid weak on-chain activity.
Bitcoin miner margins hit an all-time low, with daily returns for 1 terahash per second falling to $0.28 from $0.39 a month ago. The decline reflects broader weakness in BTC revenue, pressuring miners as the cryptocurrency hovers near $60,000 support.
An Antminer S21 XP Hydro’s estimated monthly gross profit slid to $137 from $192 last month, assuming $0.07 per kWh electricity costs. Miner-held Bitcoin, totaling over $110 billion, faces potential liquidation as AI infrastructure demand competes for capital.
Institutional spot Bitcoin flows continue to outpace miner output, reducing the impact of miner sell-offs on macro trends. On-chain activity remains subdued, adding to investor caution.