Bitcoin hashrate drops below 900 EH/s, hashprice plunges 11.65% in 30 days

Over the past 30 days, Bitcoin’s hashprice—the estimated revenue per petahash per second (PH/s) of mining power—has dropped 11.65%, now sitting at $56.74/PH/s, down from a peak of $64.22 on July 11.

As of August 3, the network hashrate has also fallen 4.75% in just 8 days, reaching 898.20 EH/s, down 44.8 EH/s from its recent high and slipping below the 900 EH/s mark for the first time in recent weeks.

Key factors behind this cooldown include:

A 1.07% increase in mining difficulty at block height 907200, bringing it to 127.62 trillion.

A 4.1% decline in Bitcoin price over the past 7 days.

The average block time is currently about 10 minutes 11 seconds, suggesting a possible downward difficulty adjustment on August 9.

As margins tighten, miners may be forced to optimize operations. Smaller mining outfits are likely to feel the squeeze more than industrial players, who have advantages in cost, energy access, and long-term planning.