Bitcoin Minin2026-06-28 13:01:04BIT Research: The 2028 Halving Is Not the End – Bitcoin Mining's Structural Shake-Up Has Just BegunThe Bitcoin mining industry is undergoing its most complex structural adjustment, with BTC at ~$61,000 and hashrate near 1 ZH/s yet miner profitability deteriorating. Data shows a 136% gap between theoretical and actual daily revenue, negligible fee income, and an industry breakeven price of ~$65,000. The 2028 halving will push production costs to ~$93,289, accelerating concentration among large miners with low-cost power, AI/HPC hosting, and diversified revenue streams. Firms are transitioning from pure miners to infrastructure and energy operators.1400
Bitcoin minin2026-06-28 10:01:00Deep Dive: 2028 Bitcoin Halving to Accelerate Mining Shakeout – Profit Pressure and Transformation AheadBitcoin mining faces its most complex structural adjustment since the protocol’s inception. Despite Bitcoin price hovering around $61,000 and network hashrate near 1 ZH/s (all-time high territory), actual miner revenue is only 44% of theoretical daily revenue (~$33 million vs. $78 million). Daily transaction fees average just $220,000, far below the historical implied level of ~$9.7 million. On the cost side, miners’ total revenue in 2025 was approximately $17.2 billion, with electricity costs alone accounting for $12.3 billion (71.5% of revenue); global ASIC hardware investment stood at $4.5 billion. The breakeven price is about $65,000, meaning mining-only operations are barely profitable at current prices. After the 2028 halving, the lower bound of production cost is projected to rise to $93,289, accelerating consolidation toward large, well-capitalized miners with low-cost power, AI/HPC hosting, and diversified revenue streams. Traditional miners reliant solely on block rewards face severe survival pressure.1350
Bitcoin Minin2026-06-27 08:31:44BIT Research: The 2028 Halving Is Not the End; Real Shakeout in Bitcoin Mining Has Just BegunBitcoin mining faces dual pressures of deteriorating profitability and imbalanced revenue structures. At current prices, miners' actual earnings are far below theoretical levels, with electricity costs pushing the breakeven price to $65,000. The 2028 halving will accelerate industry consolidation, forcing miners to pivot from pure mining to infrastructure services such as energy management and AI/HPC compute hosting. Business model upgrades are becoming the key competitive factor.1430
Bitcoin minin2026-06-27 07:31:272028 Halving Not the End: Bitcoin Mining Profitability Worsens, Industry Shifts to Energy and AI ComputingBitcoin mining faces dual pressures of deteriorating profitability and imbalanced revenue structure. At current prices, miners' actual income is far below theoretical levels, with high electricity costs pushing the breakeven price to $65,000. The 2028 halving will accelerate industry consolidation, driving miners to pivot from pure mining to infrastructure services such as energy management and AI/HPC computing hosting. Business model upgrades are becoming key to competitiveness.1340
