ביטקאָין mining operators are having a tough time during the bear market as reduced margins have resulted in much lower revenues.
BTC prices may have rallied back over $20K this week, but Bitcoin mining operations are still in the doldrums.
On Oct. 26, Jaran Mellerud from Hashrate Index reported that mining margins have evaporated over the past year. As an example, he used the gross margin of a Bitmain Antminer S19j Pro which was 88% in October 2021. Today, that gross margin has fallen to 38%.
However, this does mean that Bitcoin mining remains profitable … for now.
Source: https://beincrypto.com/bitcoin-mining-margin-squeeze-sees-revenues-evaporate/