Hashprice, a key metric used to measure mining income, is currently around a minimum of five years, according to the hashrate index, a marked reminder of how difficult the mining business has become.
In simple terms, the metric is that the income that miners can expect per unit of computer power, denoted by Petahash (pH/s). It can be called American or BTC dollars, although it is most commonly cited in USD for practical comparison.
At present, Hashprice is at $ 44.00 pH/s, only slightly above its minimum of August 2024, when Bitcoin reached $ 49,000 in the middle of the Yen Transportation trade. Currently, Bitcoin quote around $ 84,000.
Despite the highest BTC price, miners’ revenues are decreasing, which paints a serious image of the mining industry as a whole after the recent half event reduced the rewards to half. The increase in competition, the greatest mining difficulty, lower transactions income and increased energy costs have added more pressure to income.
However, not everything is bad. At the levels of around $ 44.00 pH/s, depending on the type of mining machines that miners use, miners can still be close or in balance, although far from the 2021 mining bull race.
Looking towards the future, the deterioration of market conditions, bitcoin stagnant prices and geopolitical uncertainty, as possible tariffs that affect mining operations, could create more winds against the industry.
This is reflected in the performance of the ETF of Valkyrie Bitcoin Miners (WGMI), which has dropped 50% in the year to date, while BTC fell approximately 10%, underlining the challenging environment facing the mining sector.
It makes sense that miners are increasingly turning in other sources of income, such as reallocating computer power for artificial intelligence.
Read more: Bitcoin mining actions are submerged as income craters in the midst of market carnage
