Part 1/17:

The Future of Bitcoin Mining, Hash Price, and Industry Insights

Understanding the Core of Bitcoin Mining: Hash Price

In a recent deep dive into the intricacies of Bitcoin mining, the importance of hash price emerges as the primary metric for miners. Unlike the market often viewing Bitcoin's price as the main indicator, miners focus heavily on hash price, which they equate to the "oil price" of their industry. Essentially, the hash price represents the revenue earned per unit of computing power, i.e., per Phash (petahash). As one industry veteran notes, "miners care about hash price more than Bitcoin price, because Bitcoin could be a million dollars and miners could still be poor if difficulty is high and fees are low."