Bitcoin Mining Under Pressure: Hash Price Decline Threatens Profits & Supply Chain

The cryptocurrency world is facing a major challenge for Bitcoin miners, as the hash price – a crucial indicator of profitability – continues its downward trend. The metric, indicating expected daily revenue per unit of computational power, has dropped significantly from over $62 per petahash per second (PH/s) in July to around $42 per PH/s currently. This decline is forcing miners to contemplate shutting down operations due to razor-thin profit margins, a problem exacerbated by the high costs of hardware upgrades and rising energy prices.