Bitcoin’s Rise Yesterday Brings Hashprice to $70

According to hashrateindex on Twitter, Bitcoin’s rise yesterday is causing hashprice to reach around $70. Hashprice is the market value for each unit of hashing power and is determined by Bitcoin’s price, network difficulty, and transaction fees. The increase in Bitcoin’s price has resulted in higher profitability for Bitcoin miners, leading to the rise in hashprice.

However, it’s important to note that hashprice has been fluctuating recently. In early January 2023, hashprice fell to $61.38/PH/Day. Moreover, mining margins have been decreasing due to rising electricity costs and increasing hashrate, as reported by Forbes.

In summary, while Bitcoin’s rise yesterday may bring hashprice to $70, it’s essential to consider the larger context of fluctuations in BTC’s price and network difficulty when analyzing hashprice trends.