Bitcoin

Drops

Bitcoin's recent price decline has caused a significant drop in <a href="https://ultramining.com/news/en/bitcoins-rebound-above-30k-boosts-hashprice-a-4-leap-in-24-hours/">hashprice</a>, the dollar value of daily mining revenue per PH/s of computing power, bringing it close to historic lows. Over the past seven days, the average <a href="https://ultramining.com/news/en/impending-bitcoin-halving-may-trigger-major-hashrate-decline-say-experts/">hashrate</a> fell to 569 EH/s, according to <a href="https://theminermag.com/news/2024-06-24/bitcoin-tumble-hashprice-50-ph-all-time-low/">TheMinerMag</a>. 
<figure class="wp-block-image">
 <img src="https://lh7-us.googleusercontent.com/docsz/AD_4nXdWl75_szjBzHGQdTbIZxtH48A-zD4Ax0YtyhHUXFzEgv06acg12JkLMuUfZW29BkiUS9wdT0anGjQP4e8pDga1xpt4EY9dQ5_Ob5TioXiTc8s7ES4v0sVjImuDWbNs64geNYvqeXKcl-BRIIYZioEC8Ek?key=APLzgIEH5rcVrKjwGcwD3w" alt="">
</figure> 
As of June 24, 2024, Bitcoin's hashprice has decreased to $48/PH/s, nearing the record low of $45/PH/s set in early May after the fourth <a href="https://ultramining.com/news/en/heat-waves-and-halving-bitcoin-miners-cash-in-amid-rising-prices/">halving</a> event. This drop in hashprice is below the fleet hashcosts of several large mining operations. 
<a href="https://ultramining.com/news/en/impending-bitcoin-halving-may-trigger-major-hashrate-decline-say-experts/">Bitcoin's price</a> saw a more than 3% drop on Friday, falling below $65,000. This decline was reportedly triggered by German authorities selling seized assets. The sell-off continued through the weekend, with Bitcoin plunging to $61,000 early Monday following news that Mt. Gox would repay creditors in July. This downward trend led to the liquidation of nearly $100 million in Bitcoin long positions. 
In response to the falling hashprice, some mining operations are reducing their hashrate. Since the last difficulty adjustment on Thursday, the average block <a href="https://ultramining.com/news/en/bitcoin-miners-set-for-a-tough-ride-as-2024-halving-nears-jp-morgan/">production</a> time has increased to 10.5 minutes, indicating a decrease in total network hashing power. The average hashrate over the past three days and seven days dropped to 546 EH/s and 569 EH/s, respectively. 
If hashprice remains below $50/PH/s for an extended period, Bitcoin's mining difficulty could undergo a significant downward adjustment in about 11 days.&nbsp;&nbsp;

Bitcoin Mining Revenue Drops to Near All-Time Lows Amid Price Slump

Ultramining_Eng

24 Haz 2024 tarihli diğer yazılar

Crypto Influencer Rates BlockDAG As Next Tier 1 Crypto, Leading To $53M Presale Triumph Over BNB ...

Will Solana’s recovery be delayed? Why are investors concerned?

Shiba Inu Adoption Rate Soars as Crypto.com Announces SHIB Integration for Visa Card Payments

How Bitgert is Disrupting the Blockchain Space: Innovations and Challenges

Binance CEO Richard Teng Freezes Over $5.3 Million In Stolen Funds Linked To BtcTurk Breach

Bitcoin’s June 2024 – How low can BTC go?

Güncel kripto para haberleri için ücretsiz bültenimize abone olun!