A measure of the Bitcoin mining profitability window is nearing the all-time low reached after the FTX crash, signalling tough days ahead for miners. Hashrate prices fell to $57 on Friday, according to Hashrate Index data. The figure represents the amount a miner can earn per day from 1 petahash of computing power per second. Shortly after the FTX crash in November 2022, its price hit an all-time low of $55.
Immediately after Bitcoin's halving on April 20, the hash price spiked to $139 as a flurry of activity surrounding the Rune protocol caused transaction fees to spike. According to CryptoQuant, this upward trend quickly reversed as fees fell back to pre-halving levels and mining became more difficult.
The price of bitcoin hashrate has fallen to an all-time low
2024-04-27 00:47:00
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