A recent data shows that due to the big dump in the Bitcoin hash price index, the profitability of miners is approaching an all-time low. Compared to the end of 2021, the daily electricity income per PB per second (PH/s) is now only $57. The Royal Bank of Canada said that this decline highlights the increasingly serious challenges faced by the mining industry. The Bitcoin halving event on April 20, 2024, has further intensified the challenges for miners and squeezed their income. In addition, the cost of mining a single Bitcoin has sharply increased, prompting mining companies to invest in more efficient equipment to cope with the impact. The overall situation poses significant financial risks to miners, and the industry may lose $10 billion.