As Bitcoin recently dipped to around $62,000, on-chain activity has slowed down, and Bitcoin miners' profits have hit an all-time low, sparking concerns about potential selling pressure in the market. According to Luxor Hashrate Index data, the estimated daily mining revenue per terahash (1 TH/s) plunged to a historic low of $0.028 on Tuesday (down from $0.039 last month). For example, using the Antminer S21 XP Hydro (electricity cost calculated at $0.07 per kWh), the estimated monthly gross profit has dropped from $192 last month to $137. Glassnode data shows that since early May, the 14-day average net position change for miners and mining pool addresses has remained negative. (Cointelegraph) https://www.(wublock123.com)/news/news-62621