‘A Race Toward Zero’: With Hashrate in the Clouds, Bitcoin Mining Is Less Profitable Than Ever

Bitcoin’s hashrate and mining revenue are inversely proportional Luxor Mining pool operator Ethan Vera told CoinDesk that the anemic miner revenue is a direct result of Bitcoin’s growing hashrate, its relatively stagnant price and lower-than-usual transaction fees. Disregarding profit, these miners continue to expand in hopes of future spoils, but this very activity is sending Bitcoin’s hashrate skyward, Barbour argues.

Retail miners feeling the heat As these big Bitcoin mining farms scale irrespective of profit, Bitcoin’s hashrate pumps, and smaller players are having a hard time keeping up with the suped-up competition. A problem for the Bitcoin mining market (and time) Something like Compass may help smaller miners break into the game.

Timeline of Bitcoin