Bitcoin miners slip into losses: cost of $75,500 versus price of $58,400
- —Average cash cost of BTC mining was about $75,500 versus a price of $58,400 at quarter-end
- —Hash price fell to a record $27.7 per PH/s per day in June
- —Core Scientific terminated a contract with Block for about 15 EH/s, booking a $41.9 million loss
- —About 35 EH/s of capacity is leaving the public mining sector
Why it matters: Margin pressure is accelerating miners' exit and the conversion of their sites into AI data centers, which could reduce network hashrate and BTC supply from miners.
Source: The Crypto Times