BTC Hashprice Falls to Five-Year Low

Bitcoin's hashprice has plummeted to $38.2 PH/s, marking its lowest point in over five years. This decline results from both increasing network difficulty and a drop in Bitcoin's price, which currently sits at approximately $90,000, down nearly 30% from its October peak. Hashprice, a metric that indicates the expected daily revenue for miners per terahash, is influenced by several factors including Bitcoin's market price and transaction fees. As mining difficulty approaches record highs at 152 trillion, transaction fees have also significantly dropped, with priority transactions costing as low as 25 cents. The decrease in hashprice comes amid a broader downturn in publicly traded Bitcoin mining stocks, prompting many in the sector to shift their focus from Bitcoin mining to AI infrastructure projects. The CoinShares mining ETF has experienced a substantial 43% decline as investor interest wanes, despite the sector's ongoing challenges, including low transaction fees.

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