Bitcoin Hashrate Drops for First Time in 6 Years
Bitcoin & Crypto News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Bitcoins hashrate, a key network metric, has experienced its first quarterly decline in six years, dropping about four percent year-to-date. Despite a significant increase over the past five years, the hashrate is now around one zettahash per second. Miners are facing financial strain due to high production costs and low bitcoin prices, leading to a shift towards AI and high-performance computing for steadier profits. This transition, funded by debt and bitcoin sales, may result in less cash for mining gear and potentially push out smaller operators. CoinShares predicts a hashrate increase to 1.8 zettahashes by 2026, contingent on bitcoins price reaching $100,000.
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