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CryptoQuant Founder: Bitcoin hash price hits historical low, some mining companies have switched to mining other PoW coins for hedging

CryptoQuant Founder: Bitcoin hash price hits historical low, some mining companies have switched to mining other PoW coins for hedging

Bitget2024/06/29 02:28

CryptoQuant founder and CEO Ki Young Ju posted on social media that the hash price of Bitcoin has hit a historic low. Many mining companies have slowed down their investment in mining machines, with some companies turning to other PoW currencies to hedge against market uncertainty. Hash price is a term created by Bitcoin mining service company Luxor, referring to the expected value generated per day per 1 PH/second or 1 TH/second of computing power. This indicator quantifies the benefits miners can expect from a specific amount of computing power.

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