The Bitcoin hashprice

The Bitcoin hashprice, which measures expected profit per petahash of computing power, has dropped near a five-year low at $44 per PH/s—despite higher BTC prices—due to rising difficulty, lower fees, and surging energy costs.

Some miners are now operating near breakeven, with pressure reflected in the Valkyrie Bitcoin Miners ETF (WGMI), which is down 50% year-to-date.