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Amid heightened volatility in the digital asset market, mining data is flashing cautionary signals regarding the sector's operational profitability. The Bitcoin Puell Multiple 30DMA has fallen to 0.74, signaling that miners are approaching an economic stress zone according to reports. Additionally, the Price-to-Miner-Revenue Multiple retreated from 160 to 80 as the price dropped 21% since the last Difficulty Bottom, though current data suggests gradual pressure rather than the widespread shutdowns seen in previous cycles.
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Sign InThis financial strain arrives as major mining firms like Marathon Digital and Riot Platforms face similar challenges in maintaining margins following the recent halving event. Per market data, declining revenues often force miners to liquidate portions of their Bitcoin holdings to cover operational expenses, a behavior historically preceding market 'capitulation' phases. Compared to the previous quarter, the cost of production per coin has climbed due to rising mining difficulty and sustained high energy costs.
Traders are closely monitoring critical price levels, with Bitcoin trading at $63005.56 (close June 11, 2026) amid anticipation of US macro data. Looking at the economic calendar, upcoming inflation data and central bank commentary will likely serve as the next catalysts for price direction, determining whether miners face a forced exit wave or regain financial stability through a price rebound.
Update: Market pressure has expanded into the institutional segment, with Bitcoin ETFs currently facing their deepest drawdown on record. This unprecedented retreat in ETF performance reflects a shift in institutional sentiment, potentially compounding the selling pressure and further straining the operational stability of the mining sector.