JPMorgan reported that 14 publicly traded Bitcoin mining companies experienced a significant decline in market value in March, losing $6 billion, marking their worst month on record. The sector saw a 25% decline, attributed to falling Bitcoin prices and rising hash rates leading to higher operational costs for miners. In March, miners' revenue slid by $20 million as hashprice volatility reached 6.5%, with blocks speeding up and transaction fees crashing to 1-4 sat/vB, forcing miners to lean harder on subsidies. Despite the downturn in miner market value, Bitcoin's hash rate reached new all-time highs, indicating robust network security. However, this surge in hash rate occurred amidst low transaction fees, averaging around 4 BTC per day, or roughly $377,634, and concerns about the sustainability of the Bitcoin network due to near-empty blocks. The divergence between Bitcoin's hash rate and its price has raised questions about the network's long-term viability. While the hash rate hit a 14-day moving average peak of 838 exahashes per second (EH/s) and a 24-hour spike to 974 EH/s, Bitcoin's price remains about 25% below its all-time high.