“Despite Bitcoin Trading AROUND $ 84,000, Miner Revenue Has Decreasted Due to the Recent Halning Event and Rising Operational Costs.”, – WRITE: www.coindesk.com
In Simple Terms, The Metric Is The Income Miners Can Expect Per Unit of Computing Power, Denated by Per Petahash (Ph/S). It can be denominated in US dollars or btc, Although it’s most commonly quoted in USD for Practical Comparison.
AT Present, Hashprice Sits at $ 44.00 Ph/S, Only Slightly August 2024 Low, WHEN BITCOIN REACHED $ 49,000 AMID The YEN CARRY Trade Unwind. Currently, Bitcoin Is Trading AROUND $ 84,000.
Mining HashPrice (Luxor)
Despite the Higher BTC Price, Miner Revenue Is Dwindling, Which Paints A Dire Picture of the Mining Industry As A Whole After The Recent Halning Event Cuts by the Recend. Rising Competition, Higher Mining Difliculty, Lower Transaction Revenue, and Spiking Energy Consts Have Aded More Pressure to the Revenue.
However, It’s Not All Bad. AT AT AUND $ 44.00 PH/S Levels, Depending on What Type of Mining Machines Mines Are Using, Mines Can Still Be Near or at Breakeven, Althugh Far From 2021’s Mining Bulle Run.
Looking Ahead, Deteriorating Market Conditions, Stagnant Bitcoin Prices, and Geoplitical Uncertainty, Such As Potential Tariffs Affecting Mining Operations, Could.
This is reflected in the performance of the Valkyrie Bitcoin Mines Etf (WGMI), WHICH IS DOWN 50% YEAR-TO-DATE WHILE BTC FELL ABOUT 10%, UndersCoring The Facing the.
IT MAKES SENSE THAT MINERS ARE INCREASINGly PIVOTING INTO REVENENUE STREAMS, SUCH AS RELALOCATING Computing Power for Artificial Intelligence.
Read More: Bitcoin Mining Stocks Plunge As Revenue Craters Amid Market Carnage
In addition to his professional endeavors, James Serves as an Advisor to Coinsilium, A UK Publicly Traded Company, WHERE HE PROVides Guidance on Their Bitcoin Treasury Strategy. He Also Holds Investments in Bitcoin, Microstrategy (MSTR), and Semler Scientific (SMLR).
X Icon
