According to Miner Weekly, Wu Blockchain has learned that Bitcoin mining is currently facing the toughest profit environment to date: with Bitcoin experiencing a deep pullback in November, revenue per unit of hash rate has dropped from about $55/PH/s in Q3 to around $35/PH/s, which is now below the median total hash rate cost of approximately $44/PH/s for major publicly listed mining companies. The pressure on profitability has shifted from theoretical to fully apparent. With the total network hash rate nearing 1.1 ZH/s, hash rate costs now better reflect the actual profitability levels during difficulty cycles than the cost per Bitcoin. This has also led to the payback period for the latest generation of mining machines exceeding 1,000 days, longer than the roughly 850 days until the next halving. As a result, CleanSpark has fully repaid its Bitcoin-backed Coinbase credit line ahead of schedule after raising over $1 billion through convertible bonds, demonstrating that mining companies are rapidly deleveraging and focusing on preserving liquidity. https://www.(wublock123.com)/index.php?m=content&c=index&a=show&catid=6&id=52774