We note that Bitcoin miners continue to earn successfully, even despite the first cryptocurrency’s depreciation. We clarified the latest data: miners earned the equivalent of $41.83 million yesterday.

Bitcoin mining yields

The figure peaked at $67.17 million on May 11, 2021.

What will happen to Bitcoin mining

The day before, the cryptocommunity reached another record: Bitcoin’s hash rate, that is, the total processing power of miners’ devices on the network, rose to an all-time high. And this is happening even though Bitcoin’s current price is about $27,000 below its high. But even this drop is not forcing miners to liquidate their holdings of coins to cover potential costs.

Bitcoin’s network hash rate

There is simply no such need, notes Capriole CEO Charles Edwards. According to his calculations, the average break-even point of Bitcoin mining for Bitcoin hardware owners is currently hovering around $34,000 per 1 BTC. Here is one of Edwards’ quotes on the matter, in which he shares his view of the current situation. The quote was published by Cointelegraph.

Bitcoin’s worst falls have been due to massive coin sales by miners – December 2018 and March 2020. When the price of a cryptocurrency falls below the cost of mining it, the risk of such events happening again increases. In May 2021, when Bitcoin was trading around $30,000, it was very close to that edge. Now it is at least 20 per cent further from it.

That is, the expert makes it clear that the market situation is quite stable now. This means that traders have no reason to worry about the prospect that miners will suddenly begin to drain their coin reserves and bring the cryptocurrency rate down even further.

Mining breakeven curve

There is also no panic among miners – since the beginning of this year, they continue to accumulate mined coins. That means they are not going to sell them yet, which means they are confident in a new wave of Bitcoin growth. Given that the cryptocurrency has already fallen significantly in value since reaching its all-time high, the current situation should be seen more as a buying opportunity for BTC.

By the way, it is even possible to get bitcoins without investing – the Economic Development Agency in Johnson, Arkansas offers such an opportunity. The organization is willing to pay $10,000 in BTC to skilled professionals, employees, and businesspeople willing to live and work in their region. Here’s a quote from the agency’s head Nelson Peacock about it.

We are offering technicians and entrepreneurs $10,000 in Bitcoin to realize their talents in the region. Why Bitcoin? Arkansas is experiencing explosive growth in the tech sector – especially in blockchain-enabled technology – and this incentive embraces the growing trend of using cryptocurrency as a payment method for employers.

Miners right now

It’s worth noting that candidates for relocation can also be paid in local currency. However, the possibility of remuneration specifically in crypto looks particularly attractive, as with the potential rise in the price of Bitcoin in dollar terms, the fees will only increase. In addition, local authorities are willing to set up infrastructure to meet the needs of newcomers.


We believe the current conditions in the cryptocurrency market are relatively suitable. The major cryptocurrency has already managed to decline significantly from its all-time high in November 2021, but current conditions still allow the same miners to exist quite comfortably. That means the market in its current form looks more like a bottom than a possible peak. And that's a good prospect for investors - at least in theory.


What do you think about it? Share your opinion in our millionaires’ cryptochat. There we will talk about other topics related to the blockchain and decentralisation industry.