![hashroot_btc's tweet photo. Bitcoin's hashrate just hit another all-time high.
Miners are earning less than they ever have.
Both things are true at the same time, and if that sounds like a contradiction, you're already ahead of most people. Here's what's actually going on.
Everyone tracks the price of Bitcoin. Almost nobody tracks the number that actually decides whether a miner lives or dies: hashprice.
Hashprice is simply how much revenue you earn per unit of hashpower per day. One terahash, one day, however many dollars (or sats) that brings in. It's the single honest metric in mining, because it bundles everything that matters into one number: block reward, network difficulty, fees, and price.
[IMAGE 1]
And right now, hashprice is compressed to some of the lowest levels in Bitcoin's history.
Why? Because two forces are pulling in opposite directions.
The April 2024 halving cut the block reward in half overnight. Same work, half the subsidy. That was step one.
Step two is quieter but more brutal: difficulty. Every time miners plug in more machines chasing the same reward, the network makes the puzzle harder to keep blocks at ten minutes. Hashrate near 800 EH/s isn't a sign of easy money. It's a sign of an arms race where everyone brought more guns and the prize stayed the same.
So you get the paradox. A higher Bitcoin price pulls more miners in. More miners push difficulty up. Higher difficulty pushes each miner's share of the reward down. The price going up doesn't save you. It invites your competition.
[IMAGE 2]
This is why "is Bitcoin mining profitable?" is the wrong question. The right question is "profitable for whom?"
At these hashprice levels, the line between printing money and burning it comes down to two things you actually control: the efficiency of your hardware and the cost of your power.
Run a sub-15 J/TH machine on sub-$0.08/kWh power and you're comfortably in the green. Run anything above ~22 J/TH (the entire S19 generation and older) on residential electricity, and you are paying to secure the network out of your own pocket. That's not an investment. That's a donation.
The uncomfortable truth of post-halving mining is that it rewards operators, not gamblers. The people winning right now aren't the ones who timed the price. They're the ones who obsessed over the boring inputs: joules per terahash, cost per kilowatt-hour, uptime, pool fees. The unsexy stuff.
Hashprice doesn't care how bullish you are. It only cares about your numbers.
And if you don't know yours cold, the network will find out for you.](https://pbs.twimg.com/media/HNz0s2KWkAAtsXN.jpg)
Olivia
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Joined April 2011
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"You have to become a criminal in your mind to figure out how they do it."
For 20 years she tracked terrorist money for the US government.
The biggest lesson? Stop asking how YOU would do it. They don't play by your rules.
This one's a wild listen π
https://t.co/rptN3l0bDV
https://t.co/mhMuqNnJJJ
https://t.co/Kap90n7sCR
https://t.co/h1O8UbbLBL
Most crypto engagement is fake.
Paid raids. Bot replies. Accounts that don't hold a single coin they shill.
We talked to the "Tier List God" about what actually separates a raid with soul from hollow noise, and why trust is the only currency on Crypto Twitter π
https://t.co/YOq61NjSfS
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He heard that a lot.
Then he spent 3 years working inside a Bitcoin mining facility, watching data centers pull dozens of megawatts every day.
His answer: it's backed by energy.
We sat down with him π
https://t.co/GymGt1BQSb
https://t.co/vMCamOJsfo
BitPay let its engineers in Argentina take their salary in Bitcoin.
They chose it over the local currency to escape inflation.
A few years later, some of them had stacked enough to retire early.
This is what real crypto adoption actually looks like π
https://t.co/sjqevmXVNp
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We sat down with one of its diehards to figure out how a joke became a movement π
https://t.co/qJ0PQIUOAQ
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Bitcoin's hashrate just hit another all-time high.
Miners are earning less than they ever have.
Both things are true at the same time, and if that sounds like a contradiction, you're already ahead of most people. Here's what's actually going on.
Everyone tracks the price of Bitcoin. Almost nobody tracks the number that actually decides whether a miner lives or dies: hashprice.
Hashprice is simply how much revenue you earn per unit of hashpower per day. One terahash, one day, however many dollars (or sats) that brings in. It's the single honest metric in mining, because it bundles everything that matters into one number: block reward, network difficulty, fees, and price.
[IMAGE 1]
And right now, hashprice is compressed to some of the lowest levels in Bitcoin's history.
Why? Because two forces are pulling in opposite directions.
The April 2024 halving cut the block reward in half overnight. Same work, half the subsidy. That was step one.
Step two is quieter but more brutal: difficulty. Every time miners plug in more machines chasing the same reward, the network makes the puzzle harder to keep blocks at ten minutes. Hashrate near 800 EH/s isn't a sign of easy money. It's a sign of an arms race where everyone brought more guns and the prize stayed the same.
So you get the paradox. A higher Bitcoin price pulls more miners in. More miners push difficulty up. Higher difficulty pushes each miner's share of the reward down. The price going up doesn't save you. It invites your competition.
[IMAGE 2]
This is why "is Bitcoin mining profitable?" is the wrong question. The right question is "profitable for whom?"
At these hashprice levels, the line between printing money and burning it comes down to two things you actually control: the efficiency of your hardware and the cost of your power.
Run a sub-15 J/TH machine on sub-$0.08/kWh power and you're comfortably in the green. Run anything above ~22 J/TH (the entire S19 generation and older) on residential electricity, and you are paying to secure the network out of your own pocket. That's not an investment. That's a donation.
The uncomfortable truth of post-halving mining is that it rewards operators, not gamblers. The people winning right now aren't the ones who timed the price. They're the ones who obsessed over the boring inputs: joules per terahash, cost per kilowatt-hour, uptime, pool fees. The unsexy stuff.
Hashprice doesn't care how bullish you are. It only cares about your numbers.
And if you don't know yours cold, the network will find out for you.
![hashroot_btc's tweet photo. Bitcoin's hashrate just hit another all-time high.
Miners are earning less than they ever have.
Both things are true at the same time, and if that sounds like a contradiction, you're already ahead of most people. Here's what's actually going on.
Everyone tracks the price of Bitcoin. Almost nobody tracks the number that actually decides whether a miner lives or dies: hashprice.
Hashprice is simply how much revenue you earn per unit of hashpower per day. One terahash, one day, however many dollars (or sats) that brings in. It's the single honest metric in mining, because it bundles everything that matters into one number: block reward, network difficulty, fees, and price.
[IMAGE 1]
And right now, hashprice is compressed to some of the lowest levels in Bitcoin's history.
Why? Because two forces are pulling in opposite directions.
The April 2024 halving cut the block reward in half overnight. Same work, half the subsidy. That was step one.
Step two is quieter but more brutal: difficulty. Every time miners plug in more machines chasing the same reward, the network makes the puzzle harder to keep blocks at ten minutes. Hashrate near 800 EH/s isn't a sign of easy money. It's a sign of an arms race where everyone brought more guns and the prize stayed the same.
So you get the paradox. A higher Bitcoin price pulls more miners in. More miners push difficulty up. Higher difficulty pushes each miner's share of the reward down. The price going up doesn't save you. It invites your competition.
[IMAGE 2]
This is why "is Bitcoin mining profitable?" is the wrong question. The right question is "profitable for whom?"
At these hashprice levels, the line between printing money and burning it comes down to two things you actually control: the efficiency of your hardware and the cost of your power.
Run a sub-15 J/TH machine on sub-$0.08/kWh power and you're comfortably in the green. Run anything above ~22 J/TH (the entire S19 generation and older) on residential electricity, and you are paying to secure the network out of your own pocket. That's not an investment. That's a donation.
The uncomfortable truth of post-halving mining is that it rewards operators, not gamblers. The people winning right now aren't the ones who timed the price. They're the ones who obsessed over the boring inputs: joules per terahash, cost per kilowatt-hour, uptime, pool fees. The unsexy stuff.
Hashprice doesn't care how bullish you are. It only cares about your numbers.
And if you don't know yours cold, the network will find out for you.](https://pbs.twimg.com/media/HNz007uX0AAhP50.jpg)
SpaceX just IPO'd at ~$3 trillion.
Measured in dollars, it'll probably do fine over 10 years.
Measured in Bitcoin?
You lose money. We broke down why π
https://t.co/b8GkvNh4L2
@TheValueTrade BTC is the only one that truly needs no introduction
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