Summary
- Bitcoin (BTC) hash rate and mining difficulty reached all-time highs, putting pressure on the profitability of mining companies.
- The mining cost per 1BTC is expected to exceed $70,000, raising concerns about profitability.
- Currently, the price of BTC is reported to be $108,294.63, up 2.66% from the previous day.
On the 16th (local time), according to Cointelegraph, a cryptocurrency-focused media outlet, the Bitcoin (BTC) network's hash rate and mining difficulty both reached all-time highs, putting pressure on the profitability of mining companies.
The mining cost per 1BTC is expected to exceed $70,000, representing an increase of more than $6,000 compared to the first quarter of this year.
Currently, the 14-day average hash rate of the network stands at 913.5EH/s.
Fee revenue has dropped to less than 1% of the total block reward, and hashprice (mining revenue per 1TH/s) once fell to $52 before rebounding slightly.
Meanwhile, as of 04:04 on the 17th, BTC was trading at $108,294.63, up 2.66% from the previous day, on the Binance Tether (USDT) market.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.![[Market] Bitcoin breaks below $70,000… Korea premium at 0.31%](https://media.bloomingbit.io/PROD/news/74018332-717e-4495-9965-328fe6f56cb4.webp?w=250)
