Bitcoin’s hash price has fallen to its lowest level in five years, according to Luxor, now sitting at $38.2 PH/s. Hashprice, a term introduced by Luxor, measures the expected daily value of one terahash per second of computing power. The metric reflects how much earnings a miner can expect from a certain amount of hashrate. It can be denominated in any currency or asset, although it is typically displayed in USD or BTC.
Hash price depends on four key variables: network difficulty, the price of bitcoin, the block grant, and transaction fees. Hashprice increases with bitcoin price and fee volume and decreases as mining difficulty increases.
Bitcoin’s hash rate remains near record levels of more than 1.1 ZH/s on a seven-day moving average. Meanwhile, the bitcoin price is at $91,000, down about 30% from an October peak of more than $126,000, and network issues are still near all-time highs of 152 trillion
