BTC Hashrate All-Time High… Mining Costs Expected to Surpass $70K

According to CoinTelegraph, the hash rate and mining difficulty of the Bitcoin network have reached all-time highs, putting pressure on mining companies' profitability. According to TheMinerMag, the mining cost per 1 is expected to exceed $70,000, which is more than $6,000 higher compared to the first quarter. The current network's 14-day average hash rate is recording 913.5 EH/s. Fee revenue has decreased to less than 1% of the total block reward, and the hash price (mining revenue per 1TH/s) dropped to $52 before slightly rebounding.