Bitcoin Miners are So Back - Miner Revenue Hits 2-Month High
Bitcoin Mining Revenue (Hashprice) hits a 2-month high
With Bitcoin up 11% on the year, Bitcoin Miners that survived the market downturn are reaping the rewards. Miner Revenue per Terahash, also known as “Hashprice”, has hit $0.042 — it’s highest level in 2 months.
During the past two months, hashrate, the total amount of computational power dedicated towards Bitcoin mining, has been on a decline. 4 out of the last 5 difficult adjustments have been to the downside.
Bitcoin miners with efficient machines and low-cost power were able to mine more BTC during the recent downturn as less-efficient miners became unprofitable.
This is why Blockware actively encourages our clients to purchase the most-efficient miners possible, and to upgrade their mining fleet as new miners hit the market.
As the idiom goes, if your camp is attacked by a bear, you don’t have to outrun the bear, you just have to outrun the slowest person in your group.
Bitcoin mining functions similarly:
BTC Price drops
Miners with old hardware and/or higher electricity costs unplug their machines
Mining Difficulty drops
Remaining Bitcoin Miners mine more BTC
With electricity rates ranging from $0.07/kWh to $0.075, Blockware clients are positioned well above the industry average. Which means you’ll continue mining profitably even during market downturns.
To learn more, schedule a free consultation with a member of the Blockware team: https://mining.blockwaresolutions.com/info
