Bitcoin Miners’ Margins Are Still ‘Quite Healthy’ Even After Recent Selloff: D.A. Davidson

Bitcoin Miners’ Margins Are Still ‘Quite Healthy’ Even After Recent Selloff: D.A. Davidson
Bitcoin miners are still generating healthy profits, despite the sharp selloff in crypto prices and an increase in the network hashrate, Wall Street investment firm D.A. Davidson’s analyst wrote on Tuesday.“Since the late-October peak, hash price ($/TH/day) has fallen from over $0.40 to just $0.22 today yet gross margins remain quite healthy, around 85% down from 91% at peak,” analyst Christopher Brendler wrote.He also noted that the gross margin numbers are based on the specification of “industry-standard” S19 Pro mining machines, but when a more efficient miner, the S19 XP, comes online, the margins would go to over 90% at…