Bitcoin mining profitability falls to 2020 levels
The profitability of bitcoin mining has fallen to 2020 levels due to the lethal combination of the declining bitcoin price and surging mining difficulty.
Sep 19th 2022
The rough times continue for the bitcoin miners, as their daily revenues plummeted by 10% over the past seven days. Miners are now scraping together $17.9 million per day. This is among the lowest since November 2020, before the start of the previous bull market. To put that into perspective, miners earned $62 million per day at the peak in November 2021.