BTC Mining Hits Toughest Level Yet While Hashprice Slides

Bitcoin's mining difficulty has surged by 5% to a historic 150.84 trillion, driven by a rising hash rate above 1.05 ZH/s, marking the seventh consecutive increase. This shift presents significant challenges for miners, as hashprice has dropped below $50 per petahash, reflecting decreased profitability despite a rebound in Bitcoin's price. The lack of higher transaction fees and a robust Bitcoin price are pressuring miner margins. Mining stocks, however, have witnessed considerable gains, with Cipher Mining rising 51%, Bit Digital up 25%, and Marathon Digital increasing nearly 16% over the month. As the difficulty peaks and hash prices fall, market conditions will require either higher fees, better Bitcoin prices, or a slowing in the hash rate for miners to maintain profitability. The overall crypto market also shows resilience despite macroeconomic uncertainties, supporting the digital asset market's capital growth to over $2.37 trillion.

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