An Updated Look at Bitcoin Miner Profitability

May 12, 2022, 10:47AM EDT

• 10 min read

Quick Take

  • Bitcoin’s hashprice has reached the lowest point since November 2020, thanks to the recent market slump and growing mining difficulty.
  • That has significantly changed the economics for some old-gen ASIC miners that were estimated to account for 20% of the network hashrate as of December.
  • This piece takes an updated look at the break-even prices, miner shipment, and the possible scenarios that could play out this year.

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