Mining Bitcoin has never been a health ride, but lately, it is downright a obstacle course. The sector must juggle a delicate equation: a hashprice that no longer moves, a difficulty that climbs, and transaction costs that melt like snow in the sun. Result ? Several minors will soon have to put the key under the doormat …
Mining Bitcoin: A stable hashprice, but at what price?
This is perhaps the paradox of the moment: the hashprice Bitcoin, this compass which indicates what minors gain for each petahash per second (pH/s), remains stuck around $ 48. However, the difficulty of the network – in other words, the complexity of the calculations to be resolved to validate a block – jumped 1.4 %, reaching 113.76 trillions on March 23. Clearly, we train more, for the same salary.
And there, it gets stuck for Bitcoin minors who have no latest machines. Antminee S19 XP or S19 Pro, formerly Hashrate stars, see their income today at 0.088 dollars and $ 0.067 per kilowatt hour. Suffice to say that with energy costs that blaze everywhere, some must start looking at their gear with a sad eye (or even considering resale in spare parts …).
Transaction costs: the big ones who are absent from the moment
Another unpleasant surprise: transaction costs, which only represent 1.12 % of the total awards of the blocks. We hadn't seen this since January 2022! Consequently, Bitcoin minors can no longer count too much on these small bonuses to round off their ends of blocks. The dependence on fixed awards (in the process of being reduced with the next Halving) therefore becomes total.
As if it was not already complicated enough, the difficulty of the network could still climb by 16.05 % At the next adjustment scheduled for April 4, 2025. We are talking about a passage to 132.02 trillions. If this projection is confirmed, Bitcoin minors may have to press the pedal even stronger, to move forward … in slow motion.
In this context, profitability becomes a balancingist game. Energy optimization, migration to cheaper regions, or investment in state -of -the -art equipment: the options are on the table, but none is simple. Mining Bitcoin, more than ever, requires solid nerves, sharp strategy … and perhaps a touch of faith in the hashrate.
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