Bitcoin mining profits have crunched by 75% in the last three years, according to new research from Stocklytics.
“Bitcoin mining is becoming less profitable day after day due to various factors including the cost of mining,” says Edith Reads, financial analyst at Stocklytics. “Also, halvings are anticipated events, but their impact on mining profitability is profound. With each halving, miners receive fewer bitcoins for their efforts.”
The metric to gauge Bitcoin mining profits is hash price, denoted in dollars per terra hash (USD/TH). This value is driven by factors such as BTC price, transaction fees, network complexity, and potential block subsidies.
Bitcoin mining profits stood at 0.39 USD/day for 1 TH/s in March 2021 compared to 0.1 USD/day for 1 TH/s in March 2024.
The pattern reveals a 75% fall in profits associated with mining.