Bitcoin

April

Bitcoin mining is bracing for a seismic shift due to the upcoming halving event. The newly introduced 'hashcost' metric is at the center of this transformation, offering a deeper insight into the operational challenges miners will face, according to <a href="https://theminermag.com/news/2023-12-21/miner-weekly-bitcoin-mining-hashcost/" rel="noopener noreferrer nofollow">TheMinerMag</a>.&nbsp;
The halving, slated for April 23, will cut the <a href="https://ultramining.com/news/en/bitcoins-rebound-above-30k-boosts-hashprice-a-4-leap-in-24-hours/" rel="noopener noreferrer nofollow">hashprice</a> - currently at $113/PH/s - in half. This change profoundly impacts mining economics. The hashcost metric, a brainchild of TheMinerMag and BlocksBridge Consulting, is now crucial. It quantifies the daily operational cost per EH/s or PH/s of <a href="https://ultramining.com/news/en/impending-bitcoin-halving-may-trigger-major-hashrate-decline-say-experts/" rel="noopener noreferrer nofollow">hashrate</a> for Bitcoin miners.
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Here's the crunch: if hashprice stays at $110/PH/s till April, post-halving, it'll plunge to $55/PH/s. This drop spells trouble for mining companies with high hashcosts. Q3 saw an average hashprice around $70/PH/s. Companies at the higher end of the hashcost scale now face increased uncertainty.
Hashcost is more than a mere number. It embodies a company’s fleet efficiency and power rates. For instance, HIVE's Q3 hashcost was $54/PH/s, hinting at their power rate and fleet efficiency.&nbsp;
Miners must now focus on reducing hashcosts by enhancing fleet efficiency or securing lower energy rates. The halving looms, triggering an arms race for next-gen miners. This quest for efficiency isn't just a choice but a necessity for survival in the post-halving era.

Rising Hashcosts: A Challenge for Bitcoin Miners Post-Halving

Ultramining_Eng

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