BTC big dump has caused miners to suffer huge losses: recoup investment will take 1000 days, mining companies are desperately seeking financing to survive.

[Bi推] Recently, this pullback of BTC has severely impacted the miners. The revenue per unit of computing power has directly fallen from 55 USD to 35 USD per PH/s. It is important to note that the median total cost of listed mining companies is currently 44 USD. What does this mean? Losing money every day of mining.

Worse yet, the overall computing power on the network is still skyrocketing, and it looks like it's about to break 1.1 ZH/s. At this rate, the payback period for the latest mining machines has already exceeded 1000 days—far longer than until the next halving. How are we supposed to live like this?

So you will see that mining companies have collectively changed their strategies. CleanSpark recently paid off its Bitcoin mortgage and raised over $1 billion in cash; companies like Cipher and Terawulf secured over $5 billion in financing just in Q4. Now everyone is doing the same thing: deleveraging, keeping cash, and surviving.

To put it bluntly, this bear market is screening people. Only those who can survive this phase are qualified to wait for the next bull market.