Bitcoin Hashprice Reaches $47.42 per PH/s, Up from $42.98 Last Month

On August 29, 2024, Bitcoin’s hashprice stood at just $42.98 per petahash per second per day. A month later, the figure has risen to $47.42 per PH/s, indicating a significant increase in miner profitability. This $4.44 per PH/s growth is a positive sign for the mining industry.

Bitcoin’s network difficulty decreased by 4.6% on September 25, further enhancing miners’ revenues. Bitcoin’s price has fluctuated between $62,500 and $65,700 in recent days, also impacting profitability.

However, blocks are being generated slower, with intervals of 10 minutes and 16 seconds, which could lead to a difficulty reduction of 2.74% – 2.9% in the next adjustment on October 10, 2024.