Hash rate declining is providing relief for Bitcoin miners

Hi HODLers,

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I feel there is always different ways to understand any kind of news.

For example, today I will talk about the Bitcoin hashrate declining. You could push two very different narratives:

• Lower security of the Bitcoin network
• Providing financial relief to existing miner which have been hit hard by the falling BTC price

United States' Bitcoin Miners Revenues

Bitcoin's difficulty

Even if you cannot really see it on the following graph, Bitcoin hash rate dropped 28.6% since October, 31st.

It now stants at 225.9 exahash per second (EH/s), compared to its ATH of 316,7 EH/s on Oct. 31, 2022.

It seems some politicians such as Eric Adams (NY mayor) are still willing to work to develop the industry in the United States despite all the recent drama.

As he stated recently:

“I’m going to work with the legislators who are in support and those who have concerns, and I believe we are going to come to a great meeting place,”

Stay safe,

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