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Bitcoin Hash Rate Is Exploding Higher. What Are The Implications For Mining Equities?


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The below is an excerpt from a recent edition of Bitcoin Magazine Pro, Bitcoin Magazine’s premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.

New Hash Rate All-Time High

Just two months ago, the 2022 expansion in Bitcoin hash rate was looking bleak. The bitcoin price had plummeted, miner margins were getting compressed, large public miners were shedding bitcoin holdings and it was a ripe time to revisit the state of miner capitulation in the market. Fast forward to today: price has come down from a massive bear market rally to $25,000 while hash rate coming online has exploded to a new all-time of nearly 250 EH/s. The chop and range and rallies in bitcoin price haven’t impacted the hash rate from ripping higher this year. Hash rate hasn’t really declined on a 30-day growth basis since July. 



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