Falling hashprice and a decline in Bitcoin’s prices are causing pain in the mining industry that has spread throughout the supply chain.
Bitcoin’s mining sector is under mounting pressure as the hash price, the industry’s key profitability metric, slips toward levels that could force smaller operators offline and strain the wider supply chain.
Hash price, which measures expected daily revenue per unit of computational power, is currently around $42 per petahash per second (PH/s). The metric has been in steady decline since July, when it surged above $62 per PH/s.
The push toward the $40 level leads Bitcoin mining operations, which are already facing razor-thin profit margins, to consider shutting down their rigs, according to TheMinerMag.
