Bitcoin miner daily revenues have fallen below $30 million in July, down from $60 million in mid-2025 and $95 million in 2024. The average cost of mining BTC stands at $70.5K while the BTC price is around $64.7K, making mining unprofitable for smaller players. Miner distress has extended for 250 days in 2026, three times longer than the 2018 (63 days) or 2022 (91 days) bear markets. All public Bitcoin miners are pivoting to AI, which is causing hash rate to drop and increasing the risk of 51% attacks. Bitcoin faces a double security threat from both the AI pivot and quantum computing advancements.
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