挖矿收益不足3美分！比特币暴跌后，矿商们集体“弃挖”转向HPC求生

Core Insights - The report from Rosenblatt Securities indicates that the recent decline in Bitcoin prices has rendered most Bitcoin miners unprofitable in their digital asset operations [2][7] - Bitcoin's latest trading price is $64,143.00, reflecting a year-to-date decline of approximately 26%, with prices dipping below $63,000 recently, nearing a two-week low [2][7] Mining Profitability - According to analyst Chris Brendler, mining revenues have fallen below 3 cents, making it unprofitable for all but the most efficient mining machines [4][9] - The cryptocurrency mining process is energy-intensive, and as Bitcoin prices have dropped, the price of network hashrate has also decreased, leading to significant costs for miners with minimal returns [4][9] - The Hashrate Index data shows that Bitcoin's hashrate price has decreased by about 30% over the past three months, aligning closely with Bitcoin's price drop, currently hovering around $28 per TH/s/day [4][9] - Brendler noted that the profitability of Bitcoin mining continues to deteriorate, with current hashrate prices being more unfavorable than historical lows from December of the previous year [4][9] Company Performance - The financial struggles of mining companies have intensified, with Bitmine Immersion Technologies' stock down 29%, MARA Holdings down 13%, and CleanSpark remaining relatively stable [4][9] Shift to High-Performance Computing - Some miners are pivoting to alternative business models, such as high-performance computing (HPC) services, to mitigate losses [5][10] - Companies like Cipher Mining and TeraWulf are transitioning from Bitcoin-centric operations to high-performance computing systems for data processing and complex calculations [5][10] - Brendler suggests that, given the growing demand from large-scale enterprises, the profitability outlook for high-performance computing remains positive, and all miners should actively shift from Bitcoin mining to HPC [5][10] - The Rosenblatt market-cap weighted Bitcoin mining index has only declined by 2% this year, primarily due to miners transitioning to high-performance computing, which has offset losses from digital asset mining [5][10]