Bitcoin mining is on the brink of breakeven and undergoing structural adjustments

According to BIT analysis, Bitcoin mining is undergoing the most complex structural adjustment since the protocol's inception. The Bitcoin price is holding near $61,000, overall network hashrate is close to 1 ZH/s at a historical high, profit margins remain under pressure, incentive mechanisms are misaligned, and the 2028 halving will force a systemic industry revaluation. All five independent analytical frameworks indicate that Bitcoin mining is currently operating on the edge of break-even, and pure mining operations have not yet developed credible alternative sources of revenue.