Bitcoin Mining Stress Hits Historically Rare Level as 20% of Miners Operate at Loss

BTC0.49%
According to Bitcoin.com News, about 20% of bitcoin miners are operating at a loss as of early July 2026, with the Miner Cycle Stress Composite reaching a historically rare 2026 low. JPMorgan estimates bitcoin has traded below its $78,000 average production cost for five consecutive months. The network's mining difficulty was cut 10.09% to 124.93 trillion in the latest major adjustment, the second-largest downward move of 2026 after February's 11.16% drop. Miner revenue fell 11% over the past 10 days, while the hashrate has declined more than 25% since October 2025. Coinshares estimates 15-20% of miners are unprofitable, with many accelerating a pivot toward artificial intelligence workloads to survive.
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