Bitcoin’s hash price has fallen to its lowest level in five years, according to Luxor, now standing at $38.2 PH/s. Hashprice, a term introduced by Luxor, measures the expected daily value of one terahash per second of computing power. The metric reflects how much revenue a miner can expect from a specific amount of hashrate. It can be denominated in any currency or asset, although it is typically displayed in USD or BTC.
Hashprice depends on four key variables: network difficulty, bitcoin price, block subsidy, and transaction fees. Hashprice rises with the price of bitcoin and fee volume, and falls as mining difficulty increases.
Bitcoin hashrate remains near record levels of over 1.1 ZH/s on a seven-day moving average. Meanwhile, the price of bitcoin is at $91,000, about 30% off its October all-time high of over $126,000, and network difficulty remains near all-time highs of $152 trillion
