The Bitcoin mining industry is facing a moment of extreme financial pressure. The drop in the price of $BTC has brought profitability to historically low levels, a scenario that historically precedes a deep market adjustment.
📉 Key Data of the Financial Collapse:
Hashprice at Minimums: The income per unit of computing power (hashprice) has fallen to 37.7 USD per PH/s/day, a decrease of ~30% compared to the recent average.
Crucial Dynamic Floor: The average electricity cost to produce a single BTC is 71,000 USD. This value acts as a dynamic floor: if the price of BTC consistently falls below this cost, the selling pressure from miners becomes unsustainable.
🔑 The "Satoshi Principle" and the Purge of the Network:
This juncture activates a fundamental self-correction mechanism of Bitcoin, often referred to as the "Satoshi Principle":
Forced Closure: The lack of profitability forces less efficient miners (those with high operational costs) to disconnect their equipment.
Difficulty Adjustment: As the total hashrate of the network decreases, mining difficulty automatically adjusts downward.
Strengthening: The remaining efficient miners survive and the network becomes more resilient in the long term, having eliminated the weaker operators.
💡 Implication for the Price of $BTC:
The fact that the average production cost of BTC remains at $71,000 USD is a crucial signal. While the current market price hovers around $90,000, margins are narrowing significantly. The activation of this principle suggests that:
We may be close to the final capitulation of miners.
The $71,000 level is the fundamental cost support, a level that the market will aggressively defend.
Source: CriptoNoticias
💬 Ask the Community!
Do you think the purge of inefficient miners will result in greater centralization of the hashrate, or is this process healthy and necessary for the long-term robustness of Bitcoin?
Comment your analysis of the correlation between hashprice and the price of $BTC! 👇$BTC
