Bitcoin Hashprice Recovers by 20% After Network Difficulty Decrease

Bitcoin’s hashprice, representing miners’ earnings per unit of computing power, has increased by 20% since early September. This rebound follows a 4.6% decrease in network difficulty, marking the first reduction in several months.

The new difficulty level is 88.40 trillion, easing conditions for miners and allowing for increased profitability. The hashprice recovery to $46.5 per petahash (PH/s) brings the figure close to monthly highs.

Analysts believe the difficulty drop is due to the shutdown of less efficient miners and expect the hash rate to grow further in the coming weeks. This could lead to another increase in network difficulty and new challenges for mining companies.