Bitcoin’s profits: Bitcoin mine workers may appear a dark quarter

Last year at the Campaign Train, Donald Trump promised to be Bitcoin mining champion in the United States. However, when American miners begin to release the first quarterly profit reports since Trump returns to the White House, it is clear that the group is struggling.

It is expected that seven of the eight largest miners traded to the public who are in the United States will be a loss when they report results in the first quarter, according to analysts estimated by Bloomberg. Financial struggles come even after Bitcoin reached a record exceeding $ 109,000 in January, and the average price per quarter was about 75 % of what it was in the first quarter of 2024.

Increased competition and definitions on companies that have witnessed pressure on profit margins and increased certainty about expanding operations. The decline in the broader securities market has also prompted Trump’s electoral victory also with more miners to return to debt financing instead of increasing cash from stock sales.

The difficulty of mining, a measure of computing power used at Bitcoin age, has destroyed record levels in the past months, indicating more competition for the fixed amount of bitcoin that was periodically released by the original Blockchain. Meanwhile, mining revenues decreased with high energy prices in some states in the United States during the same time period.“This will be an interesting quarter for Bitcoin miners and possibly difficult during the past few months.” “Claire Street. “We will see the margin pressure and low revenue from bitcoin mining due to the high global difficulty rate.”

The amended net income for workers in the eight of the United States decreased by about $ 1.3 billion in the first quarter of the same period in the previous year, according to analysts estimated by Bloomberg. It is estimated that the group combined was affected by a loss of $ 190 million, compared to a net income of $ 1.1 billion in the first quarter of 2024. Of the eight, Cleanspark Inc. They are the only mines that analysts expect to set a profit in the last quarter, and it is one of Revents Reveents at a later time.