Bitcoin Miners: The Great Hashprice Heist! 💰😂

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What to know:

  • Bitcoin mining revenue has plummeted to a laughable $45/PH/s, waving goodbye to those sweet election gains! 🎉
  • Transaction fees are now so low, they could be mistaken for a bad joke—just 1.3% of block rewards! 🤡
  • 15 major bitcoin mining stocks lost a whopping $14 billion in February. Ouch! 💸

So, here’s the scoop: Bitcoin miners are feeling the financial squeeze tighter than a pair of spandex pants after Thanksgiving dinner! 🍗 According to TheMinerMag’s February 2025 report, declining transaction fees and a hashprice drop are making operational costs soar like a bad stand-up comedian! 🎤

Bitcoin’s hashrate climbed 3.8% in February to 810 EH/s, but don’t get too excited! The hashprice (the revenue miners earn per unit of computing power) slipped to $45/PH/s, erasing all those glorious gains from the U.S. election price surge. Inefficient miners? They’re sweating more than a turkey on Thanksgiving! 🦃

Transaction fees are now at their lowest since the last bear market bottom in 2022. March is trending even lower, at a staggering 1.12%! It’s like watching a slow-motion train wreck! 🚂💥

And let’s not forget the AI data centers breathing down their necks! Talk about competition! Miners relying on hosting agreements and asset-light strategies are feeling the heat! 🔥

MARA is still the big cheese with 44 EH/s after a 6% hashrate increase, while CleanSpark is flexing with a 12% growth to 39 EH/s. Meanwhile, total bitcoin holdings among miners have surpassed 100,000 BTC for the first time! Some firms, like HIVE Digital and Cipher Mining, are selling their production to fund expansion. It’s like selling your grandma’s jewelry to pay for a new car! 🚗💍

Mining stocks took a nosedive, with the combined market cap of 15 major firms dropping from $36 billion in January to a mere $22 billion in March. Cipher, Canaan, Hut 8, HIVE, and Bitdeer all saw losses exceeding 40%. Yikes! 😱

With network growth slowing and energy costs rising, miners might just need a Bitcoin price rally to avoid further financial strain. Or maybe a miracle! 🙏✨

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2025-03-20 21:24