14 months after the halving, who is still mining Bitcoin profitably — and what does it mean for BTC price?
Reward per block: 3.125 BTC. At $65,000: each block = $203,000. Efficient mining cost: $20,000–$35,000/block. Industrial miners with cheap power earn $150–$180K profit per block.
Bitcoin hash rate hit 650 EH/s in June 2026 — all-time high. Miners are NOT leaving. New ASIC efficiency means lower cost per hash even after halving.
Miner-to-exchange flows are at 12-month lows. Miners holding BTC rather than selling = supply squeeze. This is a historically reliable pre-rally signal.
Every past halving was followed by ATH within 12–18 months. We're at month 14. If the pattern holds, the ATH attempt is imminent. Miner behavior confirms accumulation.
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