> Want some free money? You have all weekend to buy BTC before it recovers to $120k.

Plenis wrote:

people who got bitcoins early were able to cash out for millions. You're sounding like an old fool.

Thats how pyramid schemes emes work. First round or two wins. On the backs of the rest.

wrote:

The largest coin fell as much as 3.3% on Sunday to trade around $68,150,

Now around $67,900. Buy now or be priced out forever.
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AFAIK, the OP of this thread no longer posts here.

Whoopise.

Bitcoin miners are losing $19,000 on every BTC produced as difficulty drops 7.8%

The average production cost was sitting at $88,000 per bitcoin in mid-March, according to Checkonchain's difficulty regression model.

What to know:

    Bitcoin miners are operating at steep losses, with average production costs around $88,000 per coin versus a market price near $69,200, as rising energy prices and war-related disruptions squeeze margins.
    Geopolitical tensions in the Middle East, including oil above $100 and the effective closure of the Strait of Hormuz, are driving up electricity costs and contributing to falling hashrate, slower block times, and sharp drops in network difficulty.
    Strained mining economics are forcing miners to sell more bitcoin and push into AI and high-performance computing for steadier revenue, adding pressure to a market already weighed down by underwater holders and heavy leverage.

The math has turned against bitcoin miners, and the war is making it worse every week.

Checkonchain's difficulty regression model, which estimates average production costs based on network difficulty and energy inputs, pegged the figure at $88,000 per bitcoin as of March 13.

Bitcoin is trading at $69,200 as of Sunday, creating a gap of nearly $19,000 per coin and meaning the average miner is operating at a 21% loss on every block mined.

The cost squeeze has been building since October's crash took bitcoin from $126,000 to below $70,000, but the Iran war accelerated it. Oil above $100 feeds directly into electricity costs for mining operations, particularly the estimated 8-10% of global hashrate operating in energy markets sensitive to Middle Eastern supply.

Difficulty dropped 7.76% on Saturday to 133.79 trillion, the second-largest negative adjustment of 2026 after February's 11.16% plunge during Winter Storm Fern. Difficulty is now nearly 10% below where it started the year and far below November 2025's all-time high of nearly 155 trillion.

The hashrate has retreated to roughly 920 EH/s, well below the record 1 zetahash level reached in 2025. Average block times during the last epoch stretched to 12 minutes and 36 seconds, well above the 10-minute target.

Hashprice, the metric tracking expected miner revenue per unit of computing power, is hovering around $33.30 per petahash per second per day, according to Luxor's Hashrate Index. That's near breakeven for most hardware and not far from the all-time low of $28 hit on Feb. 23.

When miners can't cover costs, they sell bitcoin to fund operations. That selling adds supply pressure to a market already dealing with 43% of total supply sitting at a loss, whales distributing into rallies, and leveraged positioning dominating price action. Mining economics aren't just a sector story. They're a market structure story.

The publicly traded miners have been adapting by diversifying into AI and high-performance computing, which offer more predictable revenue than mining bitcoin at a loss. Marathon Digital, Cipher Mining, and others have been building out data center capacity alongside their mining operations.

The next difficulty adjustment is projected for early April and is expected to decline further according to CoinWarz data. If bitcoin stays below $88,000, and there's no sign of a return to that level in the near term, the miner exodus continues, and difficulty keeps falling.

The network self-corrects by design, making it cheaper to mine as participants leave. But the period between when costs exceed revenue and when difficulty falls low enough to restore profitability is where the damage happens, both to miners and to the spot market that absorbs their forced selling.

Make it up in volume!
             \

So this is essentially a videogame played with costs in real money and prizes with no value. Got it.

Assclown Mini Tacos wrote:

I don't think it will actually go to zero - but it's really hard to work out where the bottom of the market might be.

$125. On the high end.

Funny story. The guy who started this thread also started a strong buy on SMCI thread.

https://www.campidiot.com/viewtopic.php?id=1429593

SMCI was $56 then.

Now it is $24.

The Orlando cryptocurrency firm at the center of the massive Ponzi scheme allegedly run by Christopher Delgado filed for bankruptcy last week, showing the potential for at least 1,500 victims and up to $500 million owed.

Prosecutors say Delgado’s Goliath Ventures firm, based in Central Florida, defrauded investors of at least $328 million. Delgado, 34, was arrested last month and faces federal charges of wire fraud and money laundering.

Banking giants JPMorgan Chase and Bank of America, along with prominent cryptocurrency exchange Coinbase, have been subpoenaed in the bankruptcy case, documents filed in federal bankruptcy court in South Florida show. Attorneys want to know about those businesses’ interactions with Goliath.

The March 16 Chapter 11 bankruptcy filing was made by Miami attorney Michael Budwick, whom a Broward County Circuit Court judge appointed to take control of Goliath following Delgado’s arrest.

The company’s assets are estimated at between $1 million and $10 million, and its liabilities are estimated at between $100 million and $500 million, the bankruptcy petition says.

“Upon information and belief, there are 1,500 (or more) victims of Mr. Delgado’s criminal activity who will assert claims against the Debtors,” other bankruptcy filings say.

The bankruptcy petition also lists 20 of the creditors with the largest financial claims against Goliath, all but one of whom are listed as a potential victim of fraud by Delgado.

The creditor with the largest claim is a Bradenton man who claims he is owed $8.7 million. The other victims listed include people in Canada, Georgia, Virginia and Ohio. An Altamonte Springs company claims it is owed $40,000 for surveillance services.

Prosecutors say Delgado lived the high life on other people’s money, misappropriating investors’ funds to buy million-dollar homes, luxury cars and fancy watches, among other items. He’s now free on bond but must mostly remain at his Isleworth home, a seven-bedroom, golf course mansion he bought for $8.5 million last summer.

Some of Goliath’s investors have already filed lawsuits seeking money they claim they lost with the firm. That includes the Bradenton investor and John Euliano, a major donor to the University of Central Florida and the namesake of the school’s baseball stadium, who is suing for at least $1.2 million in damages.

Euliano declined via text a request for comment Monday.

Another investor has sued JPMorgan, alleging it enabled Goliath’s scheme and ignored red flags the firm was running a Ponzi scheme. That lawsuit says Goliath had accounts with JPMorgan and Coinbase.

Budwick, whose law firm handles bankruptcy and Ponzi scheme cases, was placed in charge of Goliath at the request of four investors. As Goliath’s “receiver,” Budwick is empowered to secure Goliath’s assets to ensure they can be used to pay the company’s investors and anyone else to whom it owes money.

As of Thursday, Budwick was still seeking records relating to Goliath and its finances from former management, third parties and federal authorities who can help identify its assets.

A meeting of Goliath creditors will be held by phone on April 22 and any creditors who wish to file a proof of claim against Goliath have until May 26 to do so. Records show 55 claims have been filed against Goliath to date.

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