Is Bitcoin's Hash Rate Record of 540 EH/s Sustainable Amidst Plummeting Profitability? 🧐
Bitcoin's network #hash rate soared to an all-time high of 544 exahashes per second on Christmas day, doubling since January.
Despite its impressive surge, declining profitability troubles #miners . Hash price, indicating profitability, dropped to $0.09/TH/s/day from its peak of $0.136/TH/s/day in December.
This fall was attributed to reduced demand after the #BRC-20 frenzy. While high hash rates fortify security, miners face increased challenges in securing blocks, posing sustainability questions amidst declining profitability.
