⚠ Miners are losing $19,000 on each BTC — the cost of production is $88k at a price of $69k
Why the cost has increased:
• The US-Israel conflict with Iran has driven oil prices above $100 per barrel
• Electricity has risen in price
• 8-10% of the global hashrate, dependent on supplies from the Middle East, is under attack
• The Strait of Hormuz is effectively blocked to commercial vessels
Network reaction:
• Mining difficulty fell by 7.76% to 133.79 T — the second largest drop in 2026 after February's -14.73%
• Hashrate fell to 935 EH/s
• Hash price (revenue per unit of power): $33.17 per PH/s per day — close to the all-time low of $28
What are they doing? Miners:
• Selling reserves to cover operating expenses, which is putting pressure on the price
• Large companies (Marathon Digital, Cipher Mining) are repurposing equipment for AI and high-performance computing
The next difficulty update is scheduled for early April. Further declines are expected if the price doesn't return to profitability.
#miningBTC