Hashrate Index Releases 2022 Bitcoin Mining Year in Review By CoinEdition

January 15, 2023 Brazen Crypto Team Bitcoin 0

© Reuters Hashrate Index Releases 2022 Bitcoin Mining Year in Review

  • Hashrate Index released the 2022 Mining Year in Review, detailing the miming activity of the bitcoin in 2022.
  • The platform pointed out that the hashprice of the coin is at a 3-month high of $78/PH/day.
  • It is also indicated that the price of the coin has broken through $21,000.

Hashrate Index, the Bitcoin mining data analytic platform released its 2022 Bitcoin Mining Year in Review on January 11, detailing the performance of the cryptocurrency in 2022, specifically analyzing its hashprice, hashrate, prices, mining stock performances, etc.

The Chinese reporter Colin Wu updated his Twitter account Wu Blockchain with the reports from the Hashrate Index on the hashprice of Bitcoin:

Wu pointed out that the hashprice of the coin hit a 3-month high of $78/PH/day, while its price “broke through 21,000 US dollars”.

Bitcoin Hashprice Index

As per the reports, though the current hashprice is a 3-month high, it’s comparatively very low from the previous year. While the bull market of 2021, was “an extremely profitable time to mine Bitcoin”, especially because of China’s Bitcoin mining ban, the situation was different.

Notably, the average hashprice for 2021 was $314.61/PH/day. Also, the yearly high was as high as $412.57/PH/day. However, in 2022, things turned upside down- the USD hashprice high was just $246.86/PH/day. Though the average hashprice was $123.88/pH/day, at a point in time, the hashprice reached an all-time low of $55.94/PH/day.

The platform defines hashprice as the expected value of 1 TH/s of hashing power per day:

Hashprice, a term coined by Luxor, refers to the expected value of 1 TH/s of hashing power per day. The metric quantifies how much a miner can expect to earn from a specific quantity of hashrate.

Bitcoin Price and Difficulty

In addition, Luxor provides the bitcoin community an opportunity to foresee the difficulty for the miners to “find the next Bitcoin block in the chain”, by showcasing the Bitcoin Price Difficulty Chart. Luxor’s Bitcoin price is an index price that is calculated by “taking the Volume Weighted Average Price (VWAP) of the Bitcoin price data from multiple exchanges.

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