Hashrate Index Roundup (4/17/2022)

Hashprice is down, difficulty is down, ASIC prices are down. It was a red, red week for Bitcoin mining.

17 Apr 2022

Happy Sunday, y'all!

The Luxor Team is coming off the conference circuit and recouping from Bitcoin 2022. With 25,000 attendees and with a music festival component to cap off the week-long festival, Bitcoin 2022 was a riot. Bailey and Co really outdid themselves this year (we'll probably need another week to recover).

Some inside baseball: @TheBitcoinConf cost us $30m+ to produce. That’s effectively a Series C funding round spent over 4 days 🤯🤮. We were def ripped off on some things, but w/o our team’s creative problem solving we could have easily spent $50m… some lessons worth sharing:
— David Bailey🌋 #FreeRoss (@DavidFBailey) April 16, 2022

Thanks to all of those who stopped by our booth and said hullo! And if you're hoping to catch us later in the year, we'll also has a booth at Consensus in June and Mining Disrupt in July.

And with that, time for some data.

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Hashprice Index

Hashrate Index Roundup Snapshot (April 17, 2022)

With Bitcoin's price barely above $40,000, Bitcoin's hashprice is treading below $0.20/TH/day once again at roughly $0.18/TH/day.

Bitcoin hashprice (March and April 2022)

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BITCOIN DIFFICULTY

Bitcoin miners were blessed with another downward difficulty adjustment last week, dropping Bitcoin's difficulty to 28.23 T.

Slight as the adjustment (-1.26%) was, we'll take any difficulty drop we can get, given the waves of hashrate waiting to come online. Last week's negative adjustment was the third negative adjustments of the last 4--a very rare occurence. Disregarding a series of downward adjustments after China's mining bans, the last time that the Bitcoin network experienced 3 downward adjustments in 4 epochs was in November / December 2021.

Bitcoin ASIC Index

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ASIC PRICE INDEX

Bitcoin mining ASIC prices have come down significantly this year.

Since the beginning of 2021, prices for new gen and mid-gen machines have fallen 21% and 34%, respectively. Bitcoin's price decline and a shortage of ample rack space is driving rig prices downward, and they will fall further still should Bitcoin's price continues its dive.