The recent drop in Bitcoin (BTC) prices to $53,000 has created severe challenges for cryptocurrency miners, with only five mining facilities currently remaining profitable, according to mining giant F2Pool.



This situation puts tremendous pressure on miners, who must constantly sell their rewarded Bitcoins to maintain operations, especially during market downturns.

Data released by F2Pool on Friday morning showed that at an electricity price of $0.08 per kilowatt-hour (kWh), application-specific integrated circuits (ASICs) with efficiencies below 23 watts per terahertz (W/T) are currently losing money.

F2Pool’s chart shows that as long as the bitcoin price remains above $53,100, only four of Antminer’s machines and one of Avalon’s remain profitable. All other mining rigs currently cost more to operate than they generate in return for their operators.

Miners provide the necessary computing power to blockchain networks in exchange for token rewards, but they face high operating costs and need to continuously sell these rewards.

This leads to significant selling pressure in the market, especially during periods of falling prices.

In June, as the price fluctuated between $65,000 and $70,000, miners sold more than $1 billion worth of Bitcoin in just two weeks, causing downward pressure on the price of Bitcoin.

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