Bitcoin Miner Revenue Indicator Hits All-Time Low, Small Miners Face Closure
CryptoNewsTerminal Staff07 Aug, 2024
Bitcoin Miner Revenue Indicator Hits All-Time Low, Small Miners Face Closure
Following the sharp decline in the cryptocurrency market on May 5, the hash price, which represents the revenue earned by a Bitcoin miner per 1 TH/s, has fallen to $0.40, marking an all-time low, DLNews reported. In this regard, Wolfie Zhao, a partner at BlocksBridge Consulting, said, "The price drop seems to have dealt a fatal blow to mining companies. Many miners have reported losses since the halving in April, and a considerable number of small miners are facing the risk of going out of business due to a lack of cash reserves. In such a situation, 'who can last longer' is becoming the key to survival."
