Mining rigs are getting cheaper mainly due to a decline in bitcoin’s hashprice, the revenue miners generate per terahash of computing power. This measure of profitability, which factors in Bitcoin’s network difficulty, price, energy costs, block subsidies and transaction fees, has been “choppy and steadily decreasing” in the past year, Harper said.
Related posts
-
Bitcoin Price (BTC) Rises Above $70K, Continuing to Outperform Ether (ETH)
Recently roughed-up bitcoin miners like Marathon Digital (MARA), Riot Platforms (RIOT) and Hut 8 (HUT) were... -
MicroStrategy’s (MSTR) Ambitious $42B Bitcoin (BTC) Acquisition Plan is Not Without Risks, CoinShares Says
The report said MicroStrategy is also “tied to its bitcoin holdings,” adding that there is a... -
Spot Bitcoin ETFs Face Heavy Losses — Who Took the Biggest Hit?
On Monday, spot bitcoin exchange-traded funds (ETFs) took a substantial hit, with investors pulling out a...