Bitcoin hashprice at lowest in 5 years… mining stocks also in decline

JOON HYOUNG LEE

Summary

Bitcoin (BTC) hashprice was reported to have recorded the lowest in five years at 38.2 dollars per 1 PH/s.
Bitcoin mining company stock prices and related exchange-traded funds (ETFs) were reported to be showing a continued decline.
Several companies are reported to be shifting their business direction from bitcoin mining to artificial intelligence (AI) infrastructure.

Hashprice, a key indicator of Bitcoin (BTC) mining profitability, has recently hit its lowest level in five years.

CoinDesk reported on the 18th (local time), citing Luxor data, that Bitcoin hashprice was measured at 38.2 dollars per 1 petahash (PH/s) as of that day. Hashprice refers to the expected revenue a Bitcoin miner earns per 1 petahash of the Bitcoin network's hashrate. CoinDesk said, "Hashprice varies according to key variables such as Bitcoin price, the network's mining difficulty, and transaction fees," and added, "(38.2 dollars) is the lowest in the past five years."

Bitcoin mining company stock prices and related exchange-traded funds (ETFs) are also in decline. CoinDesk said, "CoinShares' mining ETF WGMI is trading around 41 dollars, about 43% down from its peak," and said, "several companies in the (mining) sector are shifting business plans from Bitcoin mining to artificial intelligence (AI) infrastructure."

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