BTC Mining Profitability Slumps as Hashprice Falls to Multi-Month Low

Bitcoin mining profitability has taken a significant hit as hashprice declines to $43.1 per petahash/second (PH/s) following a 20% drop in Bitcoin's price and low transaction fees. This marks the lowest hashprice since April when Bitcoin was valued around $76,000. The mining network maintains a hash rate exceeding 1.1 zettahashes per second (ZH/s), with mining difficulty hitting an all-time high of 156 trillion (T), a 6.3% increase. Miners are now facing pressure due to reduced revenues resulting from the price correction and low transaction fees, which have been at bear market levels. In response, many miners are diversifying their operations into artificial intelligence (AI) and high-performance computing (HPC) to stabilize revenue and mitigate reliance on volatile Bitcoin market conditions. Currently, processing a high-priority transaction costs approximately 4 sat/vB ($0.58), while average annual transaction fees are among the lowest seen in years.

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