Bitcoin Miner Profits Fell As BTC Price Lost Strength: Will Miners Sell?

Crypto Insight Summary: Bitcoin miner profits recently fell to record lows, while Bitcoin struggles to hold the $60,000 floor. Should traders be worried?  **Key takeaways:** * Record-low Bitcoin mining margins and rising demand for AI infrastructure incentivize miners to reduce their BTC positions. Bitcoin’s price slide to $62,000 was paired with weak on-chain activity and declining BTC miner revenues, which have fallen to an all-time low. This revenue drop is fueling investor anxiety over potential sell pressure, especially since miners and mining pools still control over $110 billion in Bitcoin. Source: Luxor Hashrate Index_ The estimated daily return for 1 terahash per second of hashing power plunged to an all-time low of $0.28 on Tuesday, down from $0.39 just a month ago. For context, the estimated monthly gross profit for an Antminer S21 XP Hydro (at an electricity cost of $0.07 per kilowatt-hour) has slid to $137, down from $192 last month. This profitability crunch arrives as [demand for AI capacity](https://cointelegraph.com/news/bitcoin-mining-stocks-jump-as-ai-infrastructure-boom-boosts-sector-outlook) and infrastructure investments surged, dampening market sentiment just as the crucial $60,000 support level was put to the test. _Bitcoin miners' 30-day net position change, BTC. Source:_[_Glassnode Studio_](https://studio.glassnode.com/charts/distribution.BalanceMinersChange?a=BTC&c=native&mAvg=14) The 14-day average net position change for Bitcoin held in miner and mining pool addresses flipped negative in early May and has remained negative since. Crypto Insight Analysis: Direction: Bearish BTC Impact: Minor Impact Horizon: Short-term (1-3 days) Reasoning: Miner sell pressure and low profitability could pressure BTC price in the short term.