Bitcoin Hash Rate Plummets From All-Time High

The listed below is an excerpt from a recent edition of Bitcoin Magazine Pro, Bitcoin Magazines premium markets newsletter. A lot of the hash leaving the network that were seeing is since 1) hash rate following a lower bitcoin cost as older machines become unprofitable on the margin and 2) impact of the recent heatwave in the United States and curtailment especially in Texas. Total mining difficulty with portion changeEstimates for marginal Bitcoin production costs throughout some of the largest public Bitcoin miners sits around $6,000 to $10,000 primarily accounting for electrical energy expenses.

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