EMCD, one of the world’s largest Bitcoin mining pools, announced on July 27, 2026, the launch of a Miner Support Program with a maximum envelope of $30 million. The initiative aims to provide eligible miners with liquidity, fee reductions and partner benefits to weather the most severe profitability squeeze ever recorded in the industry.
🔑 Key takeaways
- Bitcoin hashprice (daily revenue per petahash) collapses to around $28/PH/day, down 50% from October 2025.
- 252 EH/s of hashrate have been switched off and three consecutive negative difficulty adjustments were recorded for the first time since July 2022.
- EMCD is unlocking up to $30 million in financing, fee reductions and partner benefits.
- The program offers liquidity at 3.9% APR, a 0% pool fee for 60 days and discounted rates on Vnish firmware.
- Partner applications are open at support-miners.emcd.io.
An unprecedented profitability squeeze for miners
The Bitcoin mining industry is going through its worst profitability crisis since the network launched. According to CoinShares data published in Q1 2026, the hashprice — the metric that measures miners’ daily revenue per unit of computing power (petahash per second) — now sits at roughly $28 per petahash per day. This level represents a 50% drop from the October 2025 peak and is a post-halving all-time low.
The pressure is also visible in the global hashrate trend. According to figures from Hashrate Index cited by CoinCentral in April 2026, some 252 exahashes per second (EH/s) have been taken offline, as operators running older-generation hardware can no longer sustain viable margins. Three consecutive negative difficulty adjustments were recorded — the first such sequence since July 2022 — pointing to a generalized capitulation across the sector.
EMCD, a Bitcoin mining mainstay since 2017
EMCD has operated its mining pool since 2017 and processed more than 4,550 BTC mined by its users in 2025 alone. The company serves individuals and businesses in more than 120 markets worldwide, with an aggregate hashrate exceeding 30 EH/s, placing it in the global top ten. It was named best mining pool by Coingape in 2026 and by Finance Feeds in 2025.
For EMCD’s leadership, the current cycle is not only a cyclical shock. It is also a structural opportunity: operators that remain solvent can capture market share by absorbing capacity abandoned by inefficient players. That is exactly the lens through which the Miner Support Program was designed.
« We have been through every cycle in this industry since 2017 — the rallies, the winters, the halvings. What we have learned is that the operators who survive are not the ones who wait for downturns to end. They are the ones who exploit them. This program is our commitment to making sure our miners have the tools to do exactly that. »
Michael Jerlis, founder and CEO of EMCD
The Miner Support Program: four operational levers
The $30 million maximum envelope announced by EMCD is not a reserved fund but an aggregate value that can be deployed based on the needs of eligible miners. It breaks down into four concrete mechanisms, calibrated to the typical friction points of a bear cycle.
| Pillar | Concrete benefit | Operational target |
|---|---|---|
| Secured liquidity | Financing at 3.9% APR | Miners under cash-flow pressure, avoiding asset sales |
| Pool fees | 0% commission for 60 days | Protect per-block margins through the trough |
| Vnish firmware | Preferential pricing on the leading ASIC optimization software | Older or underperforming hardware |
| Hardware & hosting | Exclusive terms on equipment and data center services | Capacity expansion or relocation |
The first pillar offers secured liquidity facilities at 3.9% APR, calibrated to the cash-flow cycle typical of mining operations. They allow operators to cover their running costs — power, maintenance, hosting — without having to sell BTC into a bear market, effectively protecting both their balance sheet and their exposure to the asset price.
The second mechanism provides a zero pool commission for 60 days for miners looking to protect their block-level margins while the hashprice stays depressed. The third pillar grants preferential pricing on Vnish, the leading third-party ASIC optimization firmware, aimed at operators running older hardware. The fourth lever, negotiated through EMCD’s partner network, unlocks special terms on mining equipment and data center services for miners planning to expand or relocate capacity.
A logic of sector consolidation
Beyond direct support, EMCD is inviting hardware manufacturers, data center operators and hosting providers to join the program by offering exclusive terms to eligible miners. Partner applications can be submitted at support-miners.emcd.io, turning the initiative into a sector-wide collaboration platform rather than a one-sided measure.
This setup reflects a broader trend observed since 2024: the progressive concentration of hashrate among well-capitalized operators capable of absorbing the capacity left vacant by under-equipped players. The three consecutive negative difficulty adjustments of 2026 — the first such sequence since 2022 — confirm that the purge is well underway. Pools and specialized lenders that come through it without service disruption emerge structurally stronger.
Conclusion
EMCD’s Miner Support Program arrives at a clear cyclical inflection point: $28/PH/day hashprice, 252 EH/s offline, and margins compressed to an unprecedented level. For eligible miners, the initiative delivers a rare combination of cheap liquidity, reduced fees and access to a partner ecosystem. For the wider sector, it validates a now central hypothesis: the next phase of hashrate growth will be captured by the operators that have survived the current purge.
Sources
This article is published for informational and educational purposes only. It does not constitute investment advice. Do your own research (DYOR) before making any decision.
