CJ - Bitcoin Specialist
The cost of one BTC hash per Exahash dropped to an all-time low of $66,500
The hash price is at an all-time low, which means that Bitcoin miners are making less money
The revenue generated by a Bitcoin miner is also influenced by macroeconomic variables
According to glassnode on Twitter, the price of a Bitcoin hash is now at an all-time low of $66,500 per Exahash. Due to the all-time low hashprice, Bitcoin miners are making less money in relation to hash power.
On October 11, glassnode tweeted that a sharp rise in network hashpower has caused the Bitcoin Difficulty to hit a new record high. The cost of producing Bitcoin will climb along with the increase in hashpower, making things harder for the miners. As Bitcoin price continues to fall, so does the miners' profit margin due to the increasing hash price of BTC.
Additionally, according to crypto specialists, a number of macroeconomic factors have an impact on the income of Bitcoin miners. The BTC miners are now also being taxed by the growing cost of electricity in North America and Europe, bad energy policy, and Russia's conflict with Ukraine.
For those who are unaware, hashprice is the market price allocated to each hashing power unit. Dollars per terahash per second per day ($/TH/s/d) are used to calculate hashrate. The network becomes significantly more secure as a result of the increased hash rate, which also influences the Bitcoin exchange rate.
The cheapest place to buy Bitcoin is via a trusted Bitcoin broker – BCBitcoin.