Bitcoin Mining Faces Shutdown Due to Unprofitable Costs, Raising Market Uncertainty

Bitcoin mining operations are facing a major challenge, with miners halting activities due to unprofitable hash rates. Daily hash income is at $35 per PH, significantly below the cost of running operations at $44 per PH. This financial strain has led publicly traded companies like MARATHON Digital and CleanSpark to temporarily shut down their operations. Their struggles are mirrored by other industry players as well, forcing many companies to conserve liquidity amid this economic decline. 💰