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Bitcoin’s Hash Price Reaches an All-Time Low of $66K per Exahash By CoinEdition


© Stocksak Bitcoin’s Hash Price Reaches an All-Time Low of $66K per Exahash
  • BTC hash’s price fell to $66,500 per Exahash, an all-time low.
  • BTC miners are making less due to the all-time low hash price
  • There are also macro-economic factors that affect the BTC miner’s revenue.

According to glassnode, Twitter, the hash rate has dropped to $66,500 per exahash. The hashprice’s all-time low means that BTC miners are earning less, relatively to hash power.

Glassnode tweeted, on October 11, that the Bitcoin Difficulty reached an all-time record due to a rapid increase of network hashpower. With the rise in hashpower, BTC’s production cost will also increase, making it more difficult for the miners.

While the price of Bitcoin keeps decreasing, the profit margin of the miners also decreases with the rising BTC’s hash price.

Furthermore, crypto experts state that there are several macro-economic factors that affect the BTC miner’s revenue. The rising energy costs in North America and Europe, improper energy policies, and Russia’s war with Ukraine have further burdened the BTC miners.

Hashprice, for the uninitiated is the market value assigned per unit hashing power. Hashprice can be measured in dollars per terahash per day ($/TH/s/d).

The hash rate rises, which makes the network more secure and lowers the BTC prices. Despite the fact that the mining hash rate increased, the BTC price was still lower.

Bitcoin was trading at $19 382.85 at the time this article was written. It had experienced a rise in price of 1.22% in the last 24 hours, but fell by 0.52% over seven days. BTC trade volume is $29,399 202,453.43 and has experienced an 85.38% increase in trading volume over the past 24 hours.

The post Bitcoin’s Hash Price Reaches an All-Time Low of $66K per Exahash appeared first on Coin Edition.

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