๐ Miners on the Edge: Who Stays Profitable with BTC at $78,000?
The recent Bitcoin price correction toย $78,600ย has triggered a massive stress test for the mining industry. With electricity costs atย $0.08/kWh, many popular ASIC models are currently hovering at or below their break-even point.
๐ Key Data Points:
๐ย Profitability Thresholds:
Antminer S19 XP+ Hydro, WhatsMiner M60S, and Avalon A1466I:ย Currently unprofitable (require BTC > $86,000 to break even).Antminer S21:ย Still in the green, with a break-even range between $69,000 and $74,000.U3S23H and S23 Hydro:ย The most resilient models, remaining profitable as long as BTC stays above $44,000.
๐ย Network Health Update:
Mining Difficulty:ย Decreased by 3.28% on January 22. The next adjustment is projected to drop by a massiveย 10.47%ย to 126.84 T.Hashrate:ย Dropped toย 870 EH/sโthe lowest level since June 2025. This is driven by both price action and massive miner shutdowns due to winter storms in the US.Hashprice:ย Fell toย $34.8 per PH/sย per day, revisiting levels last seen in November.
The Bottom Line:ย We are witnessing a classic "miner capitulation" for older hardware generations. However, the upcoming significant difficulty drop will provide much-needed relief for those remaining online, potentially stabilizing the network in the coming weeks.
Do you think the hashrate has bottomed out, or is there more pain ahead for miners? ๐
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