Bitcoin’s price dropped significantly from 108,364 USD on December 17 to 92,118 USD by December 20, compelling miners to adapt their strategies due to declining revenues in a volatile market.
The Bitcoin network’s hashrate decreased from 806 EH/s on December 14 to a low of 771 EH/s but has since rebounded to 781.98 EH/s, showing miners are adjusting to market changes.
The hashprice dropped from 65.10 USD per PH/s to 55 USD per PH/s, reflecting a 15.52% decline by December 23, which underscores the economic challenges facing miners.
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