“With Hashprice Hovering Near Break-Even Levels, Mines Liquidated 115% of April Production.”, – WRITE: www.coindesk.com
Notched A New All-Time High of $ 109,000 On Wednesday, But That’s Small Conslation for Bitcoin Mines, Who Last MONTH WERE FORCED TO CASH IN A RECORD NUSHING NUMBERTLC. Theminermag.
The Firm’s Latest Research Report Reportals that Public Mines Sold 115% of Their Bitcoin Production in April – Meaning they Sold More than they product. That is the Highest Ratio Since the tail end of the 2022 Bear Market.
Even Today, with Bitcoin Breaking to A New Record High Above $ 109,000, Hashprice (What Mines Earn Per Unit of Computational Power) Has Failed to Follow Suit. It Stands at Just $ 55 per Petahash per Second Second (Ph/S), Well Below The $ 63/Ph/S Level It Briefly Reached The Last Time Bitcoin Crossed $ 100,000 in December. Elevated Network Difficulty and Weak Transaction Fees Have Kept Revenues Under Pressure.
Top Players in the Mining Space Are Expanding Regardless. Cleanspark’s (CLSK) Hashrate Surpassed 40 eh/s, and iinen (iren), WHICH RECENTLY OVERTOOK RIOT PLATFORMS Power and Is Now Targeting a total of 50 eh/s by june. Cango (Cang), Meanwhile, Is Eyeing Another 18 eh/S by July.
Mara Holdings’ (Mara) Installed Hashrate Is Still The Highest At 57.3 EH/S, Accounting To A Tuesday Report by Investment Bank Jefferies. Iren have the Highest Implied Uptime at Ant AUND 97%, Followed by Hive Digital Technologies (Hive) at About 96%, The Report Added.
Meanwhile, A Shift Is Taking Place in How Miners Are Securing New Hardware. Several Public Firms have inked deals with bitmain that allwh them to pai for mining rigs in bitcoin while relaying the right to repurchaser
Mining Stocks, Battered in the FIRST QUARTER, HAVE BUNCED BACK-some by more than 60% in April Alone-Thought MOST REMAIN DOWN YEAR-TO-DATE. Only Cleanspark and Mara Holdings Are in Positive Territory for the Year.
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