Bitcoin Hashrate Hits 300 EH/s Mark as Industry Gets Some Breathing Room

, a measure of mining profitability, bounced back to over $70 per petahash/second from below $60/PH/s at the end of 2022.

At an electricity cost of $0.06 per kilowatt hour , “equipment with an efficiency of 50J/TH is now profitable whereas a month ago, equipment with an efficiency of 40J/TH could barely generate any meaningful profit,” Zhao said. But the turbo-growth of 2022 will not be repeated: The overall deterioration in mining economics will stunt the rate of hashrate growth in the next year, analysts said.

egreechee This shows how institutionalized the mining industry has become

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