NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Bitcoin Hashrate Plummets Following Crypto Winter, What Will Follow Onwards?

Sarah
Sarah
2 years ago
2 mins read
Bitcoin Hashrate Plummets Following Crypto Winter, What Will Follow Onwards?

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

The crypto winter keeps spreading to all sectors of the industry, especially resulting in Bitcoin failing to climb. Besides investors losing their funds due to price crashes, companies also downsize their workforce. Some other crypto firms declared bankruptcy, and many stopped some services to fight liquidity issues.

At a point, many miners also found it difficult to pay off their loans on mining equipment due to the price crash. According to reports, the collateral value of their mining rigs became too low to sustain the loans acquired with them.

Amid all these crises, the latest reports reveal that the bitcoin mining hash rate has plummeted due to the ongoing price fall. The data on Coinwarz shows that the hash rate fell by more than 26% within one month.

Related Reading | Data Suggests Buying On Coinbase Behind The Bitcoin Pump

Early in June, the Bitcoin hash rate was high at 292.02 EH/s. This increase brought hope to bitcoin supporters, showing that the network is healthy and not collapsing soon. But a few days ago, on July 9, the hash rate showed 178.44 EH/s but recovered to 241.07 EH/s.

Hashrate And Mining Difficulty Levels

Hashrate facilitates mining and transaction processing on a crypto network such as Bitcoin. A high hashrate indicates the health of a network. It means that many machines provide enough computational power to keep the network working. Such increased activity convinces investors that a network is worth their investment.

From early June, Bitcoin price tried maintaining the $20K mark, but by June 18, the price fell below $18K. But it regained the $20 mark.

Bitcoin Hashrate Plummets Following Crypto Winter, What Will Follow Onwards?
BTC 1% down on the candle chart | Source: BTCUSD on TradingView

Besides the price being a little steady at $20K plus, Bitcoin mining difficulty had adjusted favorably for miners. For instance, the adjustment simplified new BTC block discovery by 3.7%. Miners expect it to reduce further by 0.13% after 1,600 BTC blocks. Also, there is a growing expectation that further adjustments are imminent.

Impact Of Crash On Bitcoin Miners

The revenue for miners has continued to drop due to the general market crash. The available data on blockchain.com shows more than a 79% loss of revenue within 9 months, amounting to $15M losses on July 4.

This fall in revenue is affecting many mining firms since the likes of Compass Mining plan to downsize 15% of its staff and reduce the earnings of its top executives. Many others, such as Riot Blockchain, Marathon Digital, etc., have sold their BTC holding to cushion increasing operational costs.

Related Reading | Bitcoin Drops Below $22,000, Is Peter Brandt’s Analysis Still In Play?

Many analysts believe that such a sell-off of BTC holdings will pressure the Bitcoin price in Q3 of 2022 and affect the price. But the good news for small miners in all these is that they can mine bitcoin given the fall in the price of graphics cards by 15% and fall in hash rate.

Featured image from Pexels charts from TradingView.com
Tweet123Share196ShareSend
Sarah
Sarah

Sarah

Sarah is a journalist who continues to share her passion for writing through her writing in DeFi, FinTech, and Cybersecurity.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Ethereum Daily Chart Signals Strength Amid Market Uncertainty – Analyst

Ethereum Daily Chart Signals Strength Amid Market Uncertainty – Analyst

Ethereum continues to demonstrate strength, holding firm above key support levels and outperforming much of the crypto market despite growing...

Sebastian Villafuerte 3 hours ago
Dogecoin price news

Dogecoin’s Fate Hinges On This Price Level, Analysts Agree

Dogecoin is probing its most-contested price shelf of 2025, and two respected technicians— Cantonese Cat (@cantonmeow) and ANBESSA (@Anbessa100)—have reached...

Jake Simmons 5 hours ago
Ethereum Reclaims Pivotal Level – Key Resistance Around $2,650

Ethereum Reclaims Pivotal Level – Key Resistance Around $2,650

Ethereum pushed above the $2,600 mark yesterday, signaling renewed momentum, but the rally lost steam as broader market uncertainty capped...

Sebastian Villafuerte 6 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

倒計時開啟!BTCBULL預售衝刺最後26天 FOMO來襲!

estherw 41 minutes ago
Bitcoin Pauses Below $106K as Analyst Reveals Key Support Level To Watch

Bitcoin Pauses Below $106K as Analyst Reveals Key Support Level To Watch

Samuel Edyme 1 hour ago
Solana

$500M Bet On Solana: Education Platform Aims To Supercharge Its Treasury

Christian Encila 2 hours ago

Premium Sponsors

Top Brands

Press Releases

  • Binance recommends using RIPPLECOIN Mining to earn $15,377...

    7 hours ago
  • Bitcoin MVRV ratio predicts cloud mining will enter its...

    13 hours ago
  • Solana (SOL) Holders Start Mining Dogecoin with XY Miners...

    13 hours ago
  • Solana (SOL) Investors Earn $85,700 a Day Using Top Cloud...

    15 hours ago
  • ETHRANSACTION launches a variety of plan packages, suitable...

    16 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.