Tuesday, June 24, 2025
  • Home
  • Cryptocurrency
  • Bitcoin
  • Blockchain
  • Market & Analysis
  • Altcoin
  • More
    • Ethereum
    • DeFi
    • XRP
    • Dogecoin
    • NFTs
    • Regulations
  • Shop
    • Bitcoin Book
    • Bitcoin Coin
    • Bitcoin Hat
    • Bitcoin Merch
    • Bitcoin Miner
    • Bitcoin Miner Machine
    • Bitcoin Shirt
    • Bitcoin Standard
    • Bitcoin Wallet
Finance Bitcoin
Shop
No Result
View All Result
Finance Bitcoin
No Result
View All Result
Home Bitcoin

Bitcoin hashprice hits record low – Is a new miner crisis coming?  

by n70products
August 9, 2024
in Bitcoin
0
Bitcoin hashprice hits record low – Is a new miner crisis coming?  
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter


  • Bitcoin’s hashprice has hit a file low, stroking fears of one other spherical of miner disaster.
  • Community Problem was up 10%, and every day miner income has tanked by 50%. 

Bitcoin’s [BTC] hashprice, which tracks miner income, has dropped to a file low, elevating fears that BTC miners might face one other profitability disaster. 

In accordance with the Hashrate Index data, the hashprice dropped to $40 per computing energy unit per day on the eighth of August.

This was beneath even the 2022 crypto winter, which bottomed out at $60 per unit amidst an enormous BTC miner disaster.  

Bitcoin miningBitcoin mining

Supply: Hashrate Index

With the falling hashprice, the BTC Miner Income Per Day additionally declined from $40 million on the twenty ninth of July to round $24 million on the seventh of August, per YCharts data.

Bitcoin community issue will increase

Miners’ woes have been compounded by rising BTC network difficulty, which has hit a file excessive of 90 trillion in August, up from 80 trillion in mid-July.

Which means that the computing energy wanted to mine BTC or discover a block has elevated by practically 10%. 

This might put subscale miners beneath a lot strain and tip them to promote their BTC holdings to cowl operational prices or shut down.

On the seventh of August, the typical mining value was $83.6K towards the BTC worth of $55K, per MacroMicro data. That’s a whopping +$23K shortfall. 

Average Bitcoin mining costAverage Bitcoin mining cost

Supply: MacroMicro

Nonetheless, well-scaled and optimized miners, like Marathon Digital, have a median mining value of $43K.

In accordance with CryptoQuant founder Ki Young Ju, it meant that they might solely be fearful if BTC dropped beneath the worth for manner too lengthy.

Bitcoin miningBitcoin mining

Supply: CryptoQuant

In the meantime, BTC Miner Reserve dropped by over 1,100 BTC on the seventh of August, denoting that some miners bought off a part of their holdings.


Is your portfolio inexperienced? Try the BTC Profit Calculator


The metric tracks whole BTC miner holdings, which have risen since late July. It denotes that they had been holding even throughout final week’s dump. 

Nonetheless, miner sell-offs might additionally put strain on BTC costs. As of press time, BTC traded above $58K and will eye the earlier range-low at $60K. Nonetheless, a sustained miner dump might derail the restoration. 

Subsequent: BNB struggles amid market panic: Will THIS group gain the most?



Source link

Tags: BitcoinComingCrisishashpricehitsMinerRecord
  • Trending
  • Comments
  • Latest
Liquidation Alert As High-Risk Loans On Aave Reach $1 Billion – Details

Liquidation Alert As High-Risk Loans On Aave Reach $1 Billion – Details

December 19, 2024
Slumping Memecoin Pepe Could Witness Nearly 50% Collapse, Warns Crypto Trader

Slumping Memecoin Pepe Could Witness Nearly 50% Collapse, Warns Crypto Trader

December 16, 2024
Devconnect Istanbul 2023 – A celebration of progress and the Ethereum community

Devconnect Istanbul 2023 – A celebration of progress and the Ethereum community

December 16, 2024
XRP Primed for 90% Rally to $1.2, According to Top Analyst

XRP Primed for 90% Rally to $1.2, According to Top Analyst

December 16, 2024
iStock 1252711675

Peter Schiff Questions True Agenda Behind MicroStrategy’s Bitcoin Acquisition

0
Decentralized Oracle Network Chainlink Leads the Crypto Space in Terms of Recent Development Activity: Santiment

Decentralized Oracle Network Chainlink Leads the Crypto Space in Terms of Recent Development Activity: Santiment

0
Migrate and modernize enterprise integration using IBM Cloud Pak for Integration with Red Hat OpenShift Service on AWS (ROSA)

Migrate and modernize enterprise integration using IBM Cloud Pak for Integration with Red Hat OpenShift Service on AWS (ROSA)

0
A16z Crypto Lawyer Unleashes Scathing Attack On US SEC, Spot Ethereum ETF In Danger?

A16z Crypto Lawyer Unleashes Scathing Attack On US SEC, Spot Ethereum ETF In Danger?

0
Here’s When the ‘Real Altseason’ Will Begin, According to Closely Followed Crypto Analyst

Here’s When the ‘Real Altseason’ Will Begin, According to Closely Followed Crypto Analyst

June 24, 2025
The dangers of stablecoins

The dangers of stablecoins

June 24, 2025
Bitcoin’s $105K move explained – Here’s why it was expected

Bitcoin’s $105K move explained – Here’s why it was expected

June 24, 2025
Walmart Ordered To Pay $10,000,000 After Retail Giant Allegedly ‘Turned a Blind Eye’ to Scammers Exploiting Customers

Walmart Ordered To Pay $10,000,000 After Retail Giant Allegedly ‘Turned a Blind Eye’ to Scammers Exploiting Customers

June 24, 2025

Recent News

Here’s When the ‘Real Altseason’ Will Begin, According to Closely Followed Crypto Analyst

Here’s When the ‘Real Altseason’ Will Begin, According to Closely Followed Crypto Analyst

June 24, 2025
The dangers of stablecoins

The dangers of stablecoins

June 24, 2025

Categories

  • Altcoin
  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • DeFi
  • Dogecoin
  • Ethereum
  • Market & Analysis
  • NFTs
  • Regulations
  • XRP

Recommended

  • Here’s When the ‘Real Altseason’ Will Begin, According to Closely Followed Crypto Analyst
  • The dangers of stablecoins
  • Bitcoin’s $105K move explained – Here’s why it was expected
  • Walmart Ordered To Pay $10,000,000 After Retail Giant Allegedly ‘Turned a Blind Eye’ to Scammers Exploiting Customers

© 2024 Finance Bitcoin | All Rights Reserved

No Result
View All Result
  • Home
  • Cryptocurrency
  • Bitcoin
  • Blockchain
  • Market & Analysis
  • Altcoin
  • More
    • Ethereum
    • DeFi
    • XRP
    • Dogecoin
    • NFTs
    • Regulations
  • Shop
    • Bitcoin Book
    • Bitcoin Coin
    • Bitcoin Hat
    • Bitcoin Merch
    • Bitcoin Miner
    • Bitcoin Miner Machine
    • Bitcoin Shirt
    • Bitcoin Standard
    • Bitcoin Wallet

© 2024 Finance Bitcoin | All Rights Reserved

Go to mobile version