Bitcoin

when

<a href="https://ultramining.com/news/en/russias-bitcoin-gold-rush-mining-machine-influx-outpaces-rest-of-the-world/" rel="noopener noreferrer nofollow">Bitcoin miners</a> are encountering significant challenges as the network sees an exit amidst falling prices and declining revenues. Over the past week, <a href="https://ultramining.com/news/en/impending-bitcoin-halving-may-trigger-major-hashrate-decline-say-experts/" rel="noopener noreferrer nofollow">Bitcoin's price</a> has decreased by 5%, impacting miners' earnings as <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>— the estimated daily value of 1 petahash per second (PH/s)—has dropped to levels not seen since May. Currently, hashprice is just above $47 per PH/s, according to <a href="https://news.bitcoin.com/ru/maynery-bitkoinov-stalkivayutsya-s-ukhodom-seti-na-100-eh-s-na-fone-padeniya-tsen-i-dokhodov/" rel="noopener noreferrer nofollow">Bitcoin.com</a>.
The drop in Bitcoin's value has reduced miners' earnings from block rewards and related fees. Presently, miners earn between 0.076 BTC and 0.16 BTC per block in fees, significantly lower than a few months ago. As of June 29, Bitcoin mining revenue for June stands at $914.43 million, with $99.62 million from fees, compared to May's $964.24 million, with $64.85 million from fees.
As of Saturday, June 29, the hashprice was $47.33, the lowest since May 1 when it fell below $45 per PH/s. This revenue decline has pressured miners, causing the total network <a href="https://ultramining.com/news/en/impending-bitcoin-halving-may-trigger-major-hashrate-decline-say-experts/" rel="noopener noreferrer nofollow">hashrate</a> to drop to just below 560 EH/s. This indicates a departure of about 100 EH/s, or approximately 96 EH/s, since the end of May.
Miners have benefited from two minor difficulty adjustments, ranging from 0.79% to 0.05% over the past two recalculations. As the hashrate continues to fall and block intervals exceed the 10-minute mark, forecasts suggest a potential difficulty reduction of between 4.6% and 7.3%.
With recent Bitcoin price drops and declining hashprice, miners are facing heightened challenges amidst fluctuating revenues. Despite a slight improvement in fee income in June, the persistent decrease in hashprice has led to a significant reduction in the network's total hashrate.&nbsp;

Falling Bitcoin Hashprice and Revenues Trigger Major Miner Exodus

Ultramining_Eng

Andra artiklar publicerade 30 juni 2024

Qubetics Whitelist Emerges as the Talk of the Crypto Town as Ripple and Binance Lose Ground

BlockDAG’s DAG Technology Catalyzes 30,000x ROI Potential; Insights into TRX vs SHIB Conflict & S...

Floki Inu Issues Alert on Scam Tokens, Expands Ecosystem with FLOKI Name Service and Digital Bank...

Bitdeer Expands Bitcoin Mining Capacity with 570 MW Leasing Deal in Ohio

Crypto Market This Week: Ethereum ETF, FOMC Minutes, US Job Data & Trade Deficit

Morgan Freeman calls out AI replication of his voice

Prenumerera på vårt nyhetsbrev och få kryptouppdateringar varje dag!