PANews reported on December 2nd that, according to a Miner Weekly report, the sharp correction in BTC in November caused the unit hashrate revenue to drop from $55 to $35/PH/s, which is lower than the median total cost of approximately $44/PH/s for listed mining companies. The total network hashrate is approaching 1.1 ZH/s, resulting in a payback period of over 1000 days for the latest mining rigs, exceeding the countdown to the next halving. CleanSpark recently repaid its Bitcoin mortgage loan and raised over $1 billion, while Cipher and Terawaulf raised over $5 billion in total in Q4. Mining companies are generally shifting towards deleveraging and liquidity preservation, and the industry is entering a new round of survival selection.