The Bitcoin hash price, which is an important metric for measuring miner revenue against

The Bitcoin hash price, an important metric for measuring miner revenue per terahash, is now approaching the lowest level on record.

Luxor Technology Hash Index data shows that the price of Bitcoin hashrate fell nearly 52% to $0.0459 per second terahash on June 24 after hitting a two-month high of $0.095 on the 8th. June.

It was nearing its all-time low of $0.0447 set on May 1, but rebounded to $0.0479 in the past few hours.

In a June 23

“So far this era of hardship makes it seem like #Bitcoin hashing power has fallen off a cliff,” Ortolf said, and he believes miners are suffering “severely” with the hash price hovering around of $0.05 tera/second.

Fortunately, most Bitcoin mining machines remain profitable under current conditions, according to Mitchell Askew, principal analyst at Blockware Solutions.

The hash price is largely determined by the price of Bitcoin, miner rewards, and mining difficulty – all three parameters have declined in recent weeks.

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The price of Bitcoin fell 6.8% over the past week to $60,590 – with market sentiment dampened by news of Mt.Gox’s plan to sell $8.6 billion worth of Bitcoin to the creditors and outflows from US Bitcoin exchange-traded funds over the past two weeks.

Meanwhile, Bitcoin miner rewards were affected by the fourth Bitcoin halving since April 20, reducing block support from 6.25 BTC to 3.125 BTC, worth $188,800 at current prices .

The network’s mining difficulty – the degree of difficulty of mining a block – also decreased by 5% to 83.68 trillion hashes after reaching an all-time high on April 25.

Bitcoin’s big sales also come from miners.

Bitcoin miners’ reserves fell to 1.90 million BTC on June 19, the lowest level in Bitcoin terms in over 14 years.

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