Bitcoin Mining Hash Price Hits Multi-year Lows

The below is a direct excerpt of Marty’s Bent Issue #1206: “Hashprice at lowest point since November 2020Sign up for the newsletter here.

(Source)

via Braiins

via Braiins

Everyone okay out there? Still licking your wounds from the chaotic price crash? Welcome to bitcoin. There will be many more days like this in the coming decade. This should be expected when the world is introduced to a new world reserve currency that is completely foreign to the average human. The road to a Bitcoin standard is going to be extremely bumpy.

With that being said, I thought I’d draw your attention toward the current hash price, which hit its lowest point since November 2020 when bitcoin was trading around $15,000 and hash rate was about 100 exahashes lower. We warned you freaks a few weeks ago that the culmination of rising energy prices, a rising mining difficulty environment and a stagnant bitcoin price would lead to some stress in the bitcoin mining market. Well, today we find ourselves in an environment where energy prices seem primed to keep rising through the summer, difficulty continues to climb and the price of bitcoin happens to be crashing (and could continue to fall). This should pull forward some turmoil in the mining sector.

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