{"id":14727,"date":"2022-10-25T19:13:36","date_gmt":"2022-10-25T19:13:36","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/sub-20k-bitcoin-price-puts-btc-miner-profits-under-pressure-as-hash-rate-soars\/"},"modified":"2022-10-25T19:13:39","modified_gmt":"2022-10-25T19:13:39","slug":"sub-20k-bitcoin-price-puts-btc-miner-profits-under-pressure-as-hash-rate-soars","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/sub-20k-bitcoin-price-puts-btc-miner-profits-under-pressure-as-hash-rate-soars\/","title":{"rendered":"Sub-$20K Bitcoin price puts BTC miner profits under pressure as hash rate soars"},"content":{"rendered":"
October witnessed a surge in Bitcoin\u2019s (BTC) hash rate which is pushing the metric to a new high of 245 Exahashes per second. These changes led to a sharp decrease in the hash price, resulting in a drop in the profit margins for BTC miners reaching a low of $66.8 USD\/PH (per one quadrillion hashes per second) on Oct. 24, 2022.<\/p>\n
According to Luxor Technologies, \u201chashprice\u201d is the revenue BTC miners earn per unit of hash rate, which is the total computational power deployed by miners processing transactions on a proof-of-work network.<\/p>\n