Bitcoin hits its highest weekly close ever at $106,500 while miners face continued profitability challenges, highlighting the growing pivot from traditional mining to HPC operations.• Bitcoin shows resilience following US credit rating downgrade by Moody's• Bit Digital reports Q1 earnings with Bitcoin mining now only 31% of total revenue, down from 72% last year• HPC client base for BitDigital expanded from 1 to 23 clients in one year• Core Scientific begins receiving HPC revenue in May from their 262-megawatt facility• Most miners cannot mine profitably even at $105,000 Bitcoin price due to difficulty increases• Soluna Holdings reports challenges in Q1 but has 220 megawatts of new projects in development• Mining difficulty increased by 2% with another increase forecasted• IREN remains the only publicly traded miner that can mine Bitcoin profitablyLet us know in the comments which miner you're watching most closely.
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