Bitcoin hashprice hits 4-month high
Mining difficulty is set to cross 40 trillion in next retarget
Bitcoin had a decent rally this week, with its price hitting $25,000 for the first time since August 2022. As a result, bitcoin’s hashprice has returned to over $81 per PH/s. That is a level not seen since late September and is up 46% from recent lows.
The current hashprice also exceeds the hashcost of miner models at various energy rates, making the older generation of equipment profitable again. For instance, now at an $0.08/kWh energy rate, miners with an efficiency of 40 J/TH could again generate gross profit. Only just at the end of last year, when bitcoin’s hashprice dropped to an all-time low of nearly $55 per PH/s, the newer generation of equipment with a 30 J/TH efficiency was barely profitable.
That, perhaps, in part contributes to bitcoin’s rapid hashrate growth in recent weeks, which continues to set new records as the 14-day moving average crosses the 300 EH/s threshold.
The average bitcoin block production since the last difficulty adjustment runs as fast as every nine minutes. The next difficulty retarget is currently estimated to be up 12%, after which bitcoin’s mining difficulty will cross the 40 trillion mark for the first time. Happy hashing!
Financial news
Billionaire George Soros' Fund Dives Deeper on Crypto Bets - CoinDesk
As Bitcoin Miners Prep for Earnings Season, All Eyes Are on Treasuries and Deployments - The Block
Corporate news
Sustainable Bitcoin Protocol Completes First Transaction of Clean Mining Tokens- CoinDesk
Judge Clears Celsius' Plan to Sell Bitmain Mining Coupons Worth Over $7M - CoinDesk
Core Scientific Paid More Than $1M to CEO-Affiliated Personal Jet Company - CoinDesk
Hardware and Infrastructure
CleanSpark Buys 20,000 Miners from Bitmain, Bringing Bear Market Tally to 46,500 - The Block
Compute North’s Reorganization Plan Approved By Bankruptcy Judge - CoinDesk
Bitcoin Hashrate Hits 300 EH/s Mark as Industry Gets Some Breathing Room - CoinDesk
Iris Energy will nearly triple hashrate after buying 4.4 EH/s in machines - The Block
Features
Bitcoin Miners Are Playing a High-Stakes Game of Chicken – Wired
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