Data: Bitcoin hash rate drops to a five-year low

ChainCatcher news, according to CoinDesk, Luxor data shows that Bitcoin's hashprice has dropped to its lowest level in five years, currently at $38.2 per PH/s.

This metric reflects the expected revenue a miner can obtain from a specific amount of hashrate. Hashprice depends on four key variables: network difficulty, Bitcoin price, block subsidy, and transaction fees. Hashprice rises with increases in Bitcoin price and total transaction fees, and falls as mining difficulty increases. In addition, Bitcoin's hashrate remains close to record levels, with the seven-day moving average exceeding 1.1 ZH/s. Meanwhile, Bitcoin network difficulty is still near its historical high of 152 T. Transaction fees remain extremely low, with mempool.space showing high-priority transaction fees at $0.25 or 2 sat/vB.