Bitcoin miners are really struggling right now. The latest data shows that mining revenues are experiencing the toughest times in history—unit computing power income has dropped from about $55/PH/s in the third quarter to around $35/PH/s now. What does this mean? This figure is already below the average cost line of those listed mining companies ($44/PH/s).

In November, the deep correction of Bitcoin completely brought miners back to reality. There may have been profit space before, but now there is real loss pressure on the table. What’s worse, the total network Computing Power is still approaching the 1.1 threshold, which means the competition is fiercer and the share of the cake for each miner is getting smaller. In the mining industry, it is truly a test of ice and fire right now.