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Current Bitcoin miner revenue remains stable, reducing migration risks. Despite a 13% drop in hash price (revenue per EH/s) in Q2 2025, miners benefited from rising BTC prices ($84,257 in March 2025) and operational efficiency . Large-scale miners with low-cost energy (e.g., in Texas) maintain profitability, while smaller operators may consolidate.算力转移 to alternative chains like Ethereum Classic or Bitcoin Cash is minimal, as these lack comparable security and liquidity . However, a prolonged BTC price slump below $60,000 could force marginal miners to exit or switch networks.
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