Bitcoin Mining Faces ‘Survivorship’ Challenge as Profitability Crumbles

The Bitcoin mining industry is entering a challenging phase known as the ‘survivorship phase,’ facing dwindling profitability and a shift in strategy due to increased operational costs. Data reveals median mining costs surpassing revenue, leading miners to operate at a financial loss for the first time in this cycle. This shift necessitates a strategic pivot from expansion to prioritizing liquidity management.