Falling Profitability Is Forcing Miners to Cash Out

[tradelikepro]

The core issue behind the sell-off is declining mining profitability. The “hashprice” — a key metric for miner earnings — has fallen below breakeven levels for many operations.

For Bitcoin miners using older equipment, current conditions mean running at a loss. As a result, companies are liquidating BTC reserves to cover energy costs and operational expenses, pushing more supply into the market.

[madtrader]

mining bitcoin for years just to sell it at breakeven, peak efficiency