my mining edge inverted in june. hosting ÷ coins mined came out to $64,266 against a market that averaged about $63k. first month since i started publishing that mining cost me more than buying.

published it anyway. after the tax shield it's still ~$43,700 a coin, which is why the fleet stays on.

the network just cut difficulty 5%. somebody's unplugging. i'm reading invoices. field notes ↓

https://difficultyadjusted.substack.com/p/difficulty-adjusted-july-2026

#bitcoin #mining #bitcoinmining #hodl #hashprice