EMCD CEO: Bitcoin Miners Can Become Profitable Again
Bitcoin mining has always been a margins business, now more so than ever. The difference between profit and loss can come down to electricity prices, machine performance, pool fees, or even how many shares get rejected before they reach the network.
That pressure became more serious after the 2024 Bitcoin halving. The block reward dropped, while mining difficulty in 2026 has stayed above 135T. For many miners, the electricity cost alone to mine one Bitcoin has moved above $74,000.
That leaves less room for waste, and a business can quickly become unprofitable. This is the problem EMCD and Vnish are trying to address.
The new partnership brings together EMCD’s mining pool infrastructure with Vnish’s firmware technology, which holds a 26.4% global market share.
The goal is to help miners find where they are losing money and improve profitability without simply buying more machines.
At Consensus 2026 in Miami, EMCD founder and CEO Michael Jerlis described a market where miners need more practical support from infrastructure providers.
“Before, pools and machine manufacturers were just service providers,” Jerlis said. “Now, it looks like they became more partners with the miners.”
https://www.youtube.com/watch?v=kKIiqJ-3NMU
Where Bitcoin Miners Are Losing Money
The losses often start at the machine level.
Factory firmware usually applies the same voltage settings across ASIC chips. The problem is that chips do not perform equally. Stronger chips may be held back, while weaker chips can overheat. According to the partnership materials, this can leave up to 25% of potential hardware performance unused.
Then come pool-related costs. A pool fee difference between 1.5% and 4% may seem small, but over a year, that gap can eat into a meaningful share of a miner’s gross output.
Rejected shares create another quiet drain. When the latency to pool servers is high, miners still spend electricity on calculations that do not get accepted.
EMCD and Vnish estimate that this can possibly reduce monthly income by another 2% to 5%.
Jerlis summed up the pressure clearly.
“All miners have the same troubles,” he said, pointing to operating costs, electricity prices, software providers, and equipment sellers.
How the Partnership Helps
The EMCD–Vnish service focuses on practical fixes rather than broad promises. It includes hashboard diagnostics, tuning, network-loss reduction, mining optimization steps, and audits from EMCD and Vnish experts.
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