Part 2/17:
This insight underscores that the profitability in mining hinges not just on Bitcoin's market value but on the cost relative to hash rate and the revenue generated from validating blocks. The hash price fluctuates with factors such as block rewards, transaction fees, and network difficulty adjustments. When fees spike during network congestion, the hash price can temporarily increase, incentivizing miners to operate despite low Bitcoin prices.
The Trends and Factors Influencing Hash Price
Current data suggests that hash price has experienced significant volatility, peaking last week during a spike in fees and Bitcoin prices. It was estimated to be around $75 per Phash per day at its highest point, but recent trends show a decline, aligning with broader market corrections.