1️⃣ 3.30 USD per 100 TH – what this really means
Miner revenue has dropped to around 3.30 USD per 100 TH/s – one of the lowest levels on record.
In practical terms (per month):
M30 – 100 TH/s → ≈ 100 USD
M50 – 150 TH/s → ≈ 150 USD
M60 – 200 TH/s → ≈ 200 USD
With a realistic international power tariff of 0.05 USD/kWh, each machine spends roughly 130 USD/month on electricity alone.
📉 Result: professional farms are shutting down sub-200 TH/s units and reallocating capital to 300 TH/s+ miners. This upgrade cycle pushes network difficulty higher – without guaranteeing better profitability.
2️⃣ The three variables that define miner income
From an engineering and economic standpoint, miner revenue is driven by three interacting elements:
1️⃣ #Bitcoin price
2️⃣ Network difficulty (#networkdifficulty)
3️⃣ Transaction fees (#transactionfees)
Difficulty is the protocol’s automatic response to changing hashrate.
Fees are the dynamic premium users pay for limited blockspace.
Focusing only on price turns mining into speculation. Treating all three together turns it into engineering.
3️⃣ Price + difficulty: the pressure zone ahead
If #BTC continues to respect its historical 2-year moving-average structure, the market can still:
trade below that average,
revisit regions under 80,000 USD,
and build liquidity around zones like 74,000 USD where capital accumulates.
That liquidity acts as “potential energy” for a later move to much higher levels (even 200k+), where miner energy economics reset again.
But in the short–medium term, this combination can squeeze miner margins:
price volatility
rising difficulty from efficient 300 TH/s+ hardware
weak fee environment
= a very challenging income profile for anyone with inefficient machines or expensive power.
4️⃣ Fees: the third pillar – weak now, explosive later
Right now, fees sit near the lower band:
they do not meaningfully compensate for reduced block subsidies,
total miner income is dominated by price + difficulty.
In Bitcoin’s automatic ecosystem, fees spike during: congestion, new on-chain use cases, or stress events. When that happens, fees can temporarily restore miner revenue, while making user transactions more expensive.
Fee spikes are not a bug – they are an economic signal.
5️⃣ Mining is not “plug and earn” – it is strategy and operations
ASIC mining is far beyond:
“plug into power, plug into internet, watch live profit.”
To survive in industrial #mining today you need:
a clear power strategy (tariffs, stability, efficiency),
continuous analysis of price + difficulty + fees together,
operational discipline on hardware class (sub-200 TH vs 300 TH+), uptime and maintenance.
In other words:
Success in mining is not about owning a machine –
it is about running a strategy.
👤 Adviser Vahabi – #Mining engineering & energy economics
🎓 Adviser Vahabi Academy – engineering-driven education for the global mining community