Bitcoin’s mining industry faces profitability plunging to a months-low, with potential shutdowns or pivots looming. Hash price drops to $42 per PH/s, pushing smaller miners to the brink. Major firms like Cipher Mining and IREN shift focus to multi-billion-dollar AI deals with Amazon and Microsoft, as margins shrink due to high energy costs and reduced rewards. Congressman Zachary Nunn urges a national security review of Chinese firms Bitmain and Cango over opaque ownership structures and potential state ties. Bitcoin miners navigate challenging waters as competition intensifies post-halving, pushing total hashrate past 1 ZH/s for the first time. Manufacturers like Bitdeer turn to self-mining to offset declining hardware sales, while others embrace AI and HPC for stronger margins amid the unforgiving economics of Bitcoin mining.

Read more at Yahoo Finance: Bitcoin Miners Face Squeeze as Hash Price Nears Break-Even Levels