Recent data from BitInfoCharts reveals that Bitcoin's daily average hashrate has fallen to 684.48 EH/s, the lowest since mid-October 2022. This drop from a peak of 966 EH/s in June 2025 raises questions about its implications for the cryptocurrency market. Despite the decline, the current hashrate remains significantly higher than the 379.55 EH/s recorded in July 2023, ensuring some level of network security. The decrease is attributed to rising mining costs, which surged over 34% in Q2 2025, alongside higher electricity and maintenance expenses, prompting many miners to halt operations. Additionally, energy-saving initiatives and geopolitical tensions, such as the conflict in Iran, have contributed to this trend. Nevertheless, Bitcoin's price remains stable at $106,000, bolstered by confidence in Bitcoin ETFs, particularly BlackRock's substantial assets. A forthcoming mining difficulty adjustment on June 29, 2025, may present an opportunity for miners, although risks persist if the hashrate continues to decline. Read more AI-generated news on: https://app.chaingpt.org/news

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