BTC Price Swings Hit Miners Hard as Hashrate Starts to Rebound

Bitcoin’s price took a sharp dive last week, dropping from a high of $108,364 on Dec. 17 to $92,118 by Dec. 20.

This led to a decline in mining profitability, as the hashprice fell from $65.10 per petahash to $55 per petahash. However, the network’s hashrate, which had dipped from 806 EH/s to 771 EH/s, showed signs of recovery, rising by 11 EH/s in the last few days.

Despite fluctuations in price and profitability, miners remain agile as they navigate the unpredictable Bitcoin ecosystem, with upcoming difficulty adjustments set to add further volatility.

Clever Robot News Desk 26^th December 2024