Hashprice Grinds Up with BTC Price

Not much has changed in the landscape of Bitcoin miners recently. The recent move up to ~$63,000 has provided miners with helpful, short-term reprieve as this has pushed Hashprice to $0.046/Th/Day. However, the large moves in the Bitcoin price that miners have positioned themselves to capture have yet to come — but given the increasingly bullish dynamics of global macro, that move will take place in due time.

The past six months have been the ultimate ‘stress test’ for Bitcoin miners. Prolonged sideways BTC price action immediately after the block subsidy was cut in half – compounded with the fact that transaction fees are low – has resulted in much thinner margins for miners relative to this time last year. Miners that were efficient enough to survive the post-halving blues will reap the rewards during the bull market.

If you read the latest Blockware Intelligence Report, you’ll know that timing the market is a key aspect of Bitcoin mining. Arbitraging the phases of the cycle in which growth in the BTC price outpaces growth in mining difficulty is how to maximize success.

The chart below of hashprice’s year-over-year change does a great job at visualizing how wildly profitable it is for Bitcoin miners during bull markets. Mining revenue has historically increased by hundreds of % within 12-month windows.

Mining Economics

The table below shows the economics for an Antminer S21 under a few different conditions.

• Current Hashprice

• 1.5x Current Hashprice

• 2x Current Hashprice

• 3x Current Hashprice

Looking at the profitability of Bitcoin mining under the current conditions is helpful – but it is equally important to examine the future potential profitability. If you expect the BTC price to increase in 2025, then you’re going to want to take that into consideration.

A 200% (3x) increase in hashprice would result in an S21 profiting ~$652 in BTC per month – a huge jump from the current environment which has an S21 profiting ~$82 per month.

Bitcoin Mining with Blockware

The Blockware Marketplace makes it incredibly easy for anybody to start mining Bitcoin. We have our own data centers that are filled with the latest-generation Bitcoin miners running with low-cost electricity. You can purchase these machines directly through our Marketplace – as soon as your transaction confirms the machine is yours and you will begin earning mining rewards immediately.

Click here for a step-by-step walkthrough of the Blockware Marketplace.

For those seeking to purchase ASICs in bulk (with or without hosting), contact sales@blockwaresolutions.com or reach out here. Buying machines in bulk gives you access to better per-unit pricing than buying individual machines!

We are now taking pre-orders for the S21 XP & S21 XP Immersion

Contact sales@blockwaresolutions.com or reach out here.

All content is for informational purposes only. This Blockware Intelligence Newsletter is of general nature and does consider or address any individual circumstances and is not investment advice, nor should it be construed in any way as tax, accounting, legal, business, financial or regulatory advice. You should seek independent legal and financial advice, including advice as to tax consequences, before making any investment decision.