Bitcoin mining is facing severe challenges as coin prices decline and energy costs rise, with mining costs surging to $88,000, causing miners to lose nearly $20,000 per bitcoin mined. International oil prices and geopolitical risks are intensifying, exacerbating miners' financial pressure. Hash rate losses and extended block times indicate miners are exiting the market, driving sell-offs that further impact price structure. To survive, mining companies are turning to AI and high-performance computing to seek new revenue sources.