As the Bitcoin (BTC) network navigates through the aftermath of its fourth Halving event, a key metric providing insight into the profitability of BTC mining has plummeted to an all-time low. The hashprice, coined by Luxor, descended to $57.09 on Friday, April 26. This echoes levels last seen in the wake of the FTX collapse helmed by Sam Bankman-Fried.
Bitcoin Hashprice Plunges Unprecedentedly
This sharp decline in the hashprice arrives on the heels of the recent Bitcoin Halving on April 20. The event, which occurs roughly every four years, saw the reward for miners halved, thereby reducing the incentives for securing the network. Hence, as miners face diminished rewards, the hashprice metric serves as a vital indicator of their potential earnings.
Hashprice, denominated in various currencies but commonly displayed in USD or BTC (sats), quantifies the expected value of 1 TH/s of hashing power per day. Moreover, it functions as a barometer of a miner’s potential income based on networ
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