Bitcoin network hashrate hits record high- That means BTC will now…
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Bitcoin's network hashrate reached a record high of 742 EH in September, increasing mining costs and leading miners to sell 3000 BTC to cover expenses. Despite improved network security, the production cost to mine one BTC surged to $36.5K, while the asset's spot price sat around $34.9K. Daily miner revenue fell significantly, leading to a drop in miner reserves from 1.817 million BTC to 1.814 million. A continued sell-off by miners may place additional downward pressure on BTC prices, warranting close monitoring amidst macroeconomic conditions.
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Source: Amb Crypto The copyright of this article belongs to the original author/organization.
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