CandleFocus

BTC’s Climb Lifts Miner Revenue, Restoring Hashprice to June Levels

Author: Content Editor
Bitcoin miners are benefiting from the recent surge in the price of bitcoin, with the hashprice reaching its highest level in 152 days. The hashprice represents the value of one petahash per second (PH/s) of hashing power. Since the fourth halving of bitcoin, hashprice had been lagging, but it has now risen to $56.76 per PH/s. This increase in hashprice is due to miners adding a significant amount of hashing power to the network. Currently, miners are enjoying higher returns due to elevated transaction fees and the increase in bitcoin's price. However, any significant price drops could put pressure on miners' profits. A difficulty retarget is expected soon, which may result in a slight increase or decrease in mining difficulty. The surge in network hashrate can be attributed to the use of more efficient ASIC miners. Manufacturers like Microbt, Canaan, Bitmain, and Auradine are developing advanced units that offer higher performance and efficiency, allowing miners to continue increasing the hashrate.

Related News