Bitcoin Miners’ Revenue Tumbles 11% – Will They Surrender? 🤯

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The market, it seems, is a most trying mistress, testing the patience of even the most steadfast investors. Alas, Bitcoin [BTC], that fickle flame, still trades some thirty per cent beneath its lofty peak of $126k, leaving many a holder to lament their underwater fortunes. The STH cost basis, a figure hovering near $102k, suggests short-term holders now gaze upon roughly twelve per cent in unrealized losses-though perhaps they might call it “an education in humility.” 🎓

The mining fraternity fares no better, one might say. According to the esteemed Glassnode, total miner revenue hath plummeted from 562 BTC in mid-October to a mere 502 BTC now-a reduction of eleven per cent! Such is the plight of miners, who now feel the squeeze as revenue and profitability take a tumble, much like a gentleman’s hat in a summer storm. 🌧️

Notably, this decline occurs even as mining difficulty ascends to record heights. In early November, the difficulty index soared to a staggering 159 trillion, demanding more hashing power and electricity for the same paltry rewards. One must wonder: are they working harder but making less? A most vexing paradox! 🤯

This trifling profit margin, coupled with the market’s continued reluctance to embrace risk (with BTC’s $90k floor as shaky as a debutante’s knees), prompts a most pressing inquiry: Are miners teetering on the brink of capitulation? A fate as inevitable as a wet cat leaping from a carriage? 🐾

Bitcoin Miners Under Pressure Amid Market Uncertainty

It appears too soon to declare a bottom, for the noble institutionals have yet to grace the dance floor with their capital. BTC ETFs exhibit flows as volatile as a courtship gone awry, with recent days witnessing $80 million in net outflows. Historically, such bull rallies have relied on steadfast ETF inflows-without which, a descent below $90k seems not merely possible, but probable. And lo! Miner patience, it seems, is wearing thin. 🕰️

In late November, miners’ net position change languished in the red, reaching -3,555 BTC as BTC wavered near $80k. A familiar pattern now emerges, as if the market whispers, “Again, we shall dance this waltz of despair.” Indeed, the metric has returned to crimson, with -487 BTC in outflows-a sign that some miners may be surrendering their BTC to the void, much like a lady parting with her jewels to pay the butcher’s bill. 💸

Thus, a new wave of miner distribution brews beneath the surface. With volatility still high and bullish bids as cautious as a mouse in a cat’s parlor, one cannot dismiss the possibility of full-blown capitulation. A most dramatic finale, indeed. 🎭

Final Thoughts

  • Bitcoin miner revenue hath fallen eleven per cent in two months, signaling stress in profitability as mining difficulty reaches record highs.
  • Miners’ net position changes indicate some may be capitulating-though whether by choice or necessity remains a matter of debate.

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2025-12-13 07:09