Happy Sunday, y'all!
We're two weeks into the New Year and hashprice is climbing. Before we get to celebrating, though, we should heed today's upcoming difficulty adjustment, which is shaping up to be the largest since the start of Q4-2022.
Still, hashprice is starting off the year on a high note. Is this a positive auspice for miners as the exit perhaps their most difficult year yet, or is it a tease to get our hopes up? We've got 11 and half months to find out.
Speaking of Bitcoin mining's most difficult year yet, we're pleased to announce that we published our 2022 year-end report last week. The 70-page review covers every corner of one of the most historic years in Bitcoin mining, so please check it out and share if you find it insightful!
Bitcoin Mining News
- ASIC loan financiers turn to mining as defaults rise
- Bitcoin mining was booming in Kazakhstan. Then it was gone
- Inside FTX's $1 billion investment into Genesis Digital assets.
Mining Market TLDR (Change from Prior Week)
- Hashprice: $77.47/PH/day (+23%) | 0.00371953 BTC/PH/day (-0.07%)
- Hashrate: 268 EH/s (-1.1%)
- Difficulty: 34.09 T (0%)
Sponsored by Luxor
Hashprice Index (January 15, 2023)
Bitcoin's hashprice is juicing right now.
As Bitcoin's price breaks above $20k, USD hashprice has risen in kind to levels we haven't seen since the first week of October in 2022. With hashprice up 23% over the week to $77/PH/day, the hashprice chart looks like a quarter pipe.
The rally is very much appreciated considering that hashprice exited 2022 near all-time lows, but it will also be very much cut short by today's difficulty adjustment. The 9-10% positive adjustment will be the first since October 10, 2022 and will erase a majority of the gains hashprice enjoyed this week.
Bitcoin Mining ASIC Price Index (January 15, 2023)
Bitcoin mining ASIC values continue to fall in the new year, though pricing changes were much less drastic last week.
New-gen rigs continue to experience the most pronounced repricing, while there aren't enough old-gen rigs in the secondary market to update the index with any meaningful price changes.
When hashing at $0.07/kWh power cost, here are the current bitcoin mining profitability specs for popular mining rigs:
- Antminer S19 XP (140 TH/s): $5.8
- Whatsminer M50S+ (136 TH/s): $5.0
- Antminer S19j Pro (104 TH/s): $2.9
- Whatsminer M30s++ (112 TH/s): $2.8
- Antminer S19 (95 TH/s): $1.9
- Whatsminer M30s (86 TH/s): $1.2
- Antminer S17 Pro (53 TH/s): $0.6
Bitcoin Mining Stocks (January 15, 2023)
After a brutal Q4-2022, Bitcoin mining stocks are starting off the new year on a very strong note. With stocks across the board bouncing hard during Bitcoin's price rally, our Crypto Mining Stock Index rose by a staggering 32%.
New From Hashrate Index
Last week, we released our 2022 year end report, a comprehensive look at what was perhaps the most brutal year for Bitcoin miners to date.
Hashprice hit an all-time low in November. New-gen ASICs exited the year at all-time low valuations. Many Bitcoin mining stocks fell more than 90%. North America's leading hosting providers went bankrupt. Acquisitions and asset sales became a prevailing theme. Riches gained in the bull market were lost. And for however tough 2022 was, 2023 could be tougher still.
We cover all of the above – and much more! – in our 70 page year-end report. If you find the report useful, please share and feel free to give us your feedback!
In 2022, more bitcoin mining stocks traded on public markets than ever since public mining companies began cropping up in 2017. For some, it was their first full trading year - and it could also be their last.
This article analyzes performances, news, and trends regarding public miners in 2022. It's a direct excerpt from our recently published year-end 2022 report, which you can access below.
Have a great week, and Happy Hashing!
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