Bitcoin mining profitability hits lowest level in five years

Currently, various companies are operating Bitcoin (BTC) mining at a level that is barely profitable.

According to HASHRATE INDEX, as of the 22nd, the revenue (USD/PHS/DAY) that a Bitcoin miner can earn per day with 1 petahash/second of computing power is about $45. This is the lowest level in the past five years.

In October 2021, during the bull market, USD/PHS/DAY reached about $417. This means that it has fallen by about 90% to date.

Note that 1 petahash...