Bitcoin hashprice falls to historic low as mining difficulty hits all-time high: What lies ahead?

The hashprice for Bitcoin has dropped to 34.49 USD per PH/s, marking an over 50% decline, while mining difficulty reached 155 trillion, straining miners’ finances. Profitability now stands at 0.0334 USD per day per TH/s, raising worries about miners’ ability to sustain their operations.

As the market remains bearish, the likelihood of miner capitulation increases. The current mining costs have surged to approximately 112,000 USD, more than 1.3 times Bitcoin’s price, further pressuring the mining community amid fears of large-scale exits.