Bitcoin Hash Rate Peaks high and up ,
Profits Plunge down and low.

Bitcoin's hash rate achieves record-breaking 540+ EH/s, yet hash price and profitability decline persist.

Bitcoin's mining hash rate soared to an unprecedented peak on Christmas day, reaching 544 exahashes per second (EH/s), as reported by Blockchain.com and confirmed by Bitinfocharts. This milestone, marking a 130% increase in hash rates since January, aligns with Bitcoin's price surge, which has mirrored the upward trajectory, soaring over 150% since the beginning of 2023.

Reflexivity Research co-founder Will Clemente, analyzing the hash rate on a logarithmic scale, downplayed the impact of the 2021 China mining ban, stating, "The summer 2021 China mining ban is barely a blip." He expressed confidence in Bitcoin as the most secure and decentralized open-source monetary network.

While a high hash rate may theoretically bode well for models like implied hash-adjusted price, it presents challenges for miners. The intensified computational effort required to secure the next block poses a conundrum for miners in the face of diminishing profitability.

Hash price, a key profitability metric, has seen a decline in the past week, dropping to $0.09 per terahashes per second per day, according to HashrateIndex. This represents a 34% decrease from its peak of $0.136/TH/s/day on December 17, 2023. The cooling of the BRC-20 ordinal inscription trend has contributed to this decline in hash price.

The sustained pressure on transaction fees, evident in the failure to fully clear Bitcoin mempools for almost a year, has been observed since February. Glassnode analyst "Checkmatey" noted the prolonged elevated fee pressure, emphasizing the impact on the network.
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Disclaimer: DYOR

🚨🚀 How is hashprice calculated in Bitcoin?

Hashprice is calculated as follows: (Total Hashrate in PH/s) / (Amount of Bitcoins mined each day + Transaction fees) x (Bitcoin Price in USD)

It allows us to calculate dollars divided by PH/s ($/PH/s).

Its opposite is the hashcost, which shows how much money is needed to generate one PH/s. It is stated in terms of how well an organization's ASIC fleet performs and how much power costs.

Hashcost is calculated as follows: (Average mining fleet efficiency in J/TH) x (cost of power in $/MWh) x (24 hours)

Additionally, dimensional analysis provides us with dollars split by PH/s ($/PH/s).

In conclusion, for hashcost to be lucrative, it must be less than hashprice.
#hashrate #hashprice #BTC #ETH #btcnews99

🚀Bitcoin on the Verge of a Bull Run? CryptoQuant Predicts Major Rally as Hashprice Hits Record Low!🚀

Bitcoin's hashprice has recently dropped to historic lows, signaling an interesting potential shift in the market. According to CryptoQuant, this could be a strong indicator for an upcoming rally. 📈

When hashprice—the revenue miners earn per unit of hashing power—hits rock bottom, it often pressures inefficient miners out, reducing network difficulty. This can lead to a consolidation among stronger miners and set the stage for a potential price surge! ⚡

🔍 Key Takeaways:

Market Clean-Up: Lower hashprice can push out weaker miners, streamlining the network.

Reduced Difficulty: Easier mining conditions can encourage more participation, stabilizing the network.

Potential Rally: Historical data suggests that such lows often precede significant price increases.

Are you ready to ride the next wave? 🌊 Let’s see how this plays out in the coming weeks!

#bitcoin☀️ #BTC☀ #CryptoQuant #hashprice #BinanceSquareFamily $BTC