According to TechFlow, cryptocurrency service provider Matrixport released a chart today saying that the Bitcoin mining hash rate has rebounded and the outlook for Bitcoin is positive. The Bitcoin mining hash rate has always been a directional indicator of Bitcoin price increases. Recently, some miners have shut down their equipment due to poor returns. However, the rebound in the hash rate suggests that the pressure on miners may be limited.
Despite this, miners’ daily revenue is still low, at only $32 million, compared to $73 million around the halving date on April 20, 2024.
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