The community’s complete hash fee presently stands at 240 EH/s and is predicted to extend even additional.
The present hash fee represents a 3x improve from the community’s lows in July 2021 when a authorities ban triggered a miner exodus from China. The hash fee then dropped to a two-year low of round 89 EH/s.
The rise in hash fee follows an equally sharp rise in mining issue. On Monday, Oct. 10, Bitcoin mining issue noticed its sharpest adjustment this yr, growing by 13%. Monday’s adjustment places the present Bitcoin mining issue at 2x the degrees it recorded in July 2021.
Presently standing at 35 trillion, the mining issue will severely pressure already harassed Bitcoin miners, additional lowering their income.
miner income per Exahash, a metric used to estimate every day miner revenue reveals that miners all throughout the community are getting squeezed out of income. Miner income per exahash reveals the estimated every day income for miners relative to their contribution to the community’s general hash energy. It’s calculated by dividing the ratio between complete USD or BTC-denominated revenue by the present community hash fee.
Information from Glassnode has proven that miner income has been steadily declining since late 2021 and is predicted to lower even additional as Bitcoin’s worth lies flat at $20,000. Present miner income stands at 4 BTC or round $80,000 per day.
With power costs anticipated to soar by means of the winter, miners may see their revenues drop even additional. Any volatility in Bitcoin’s worth may also put additional pressure on the mining business.