Bitcoin Mining Hashprice Structural Decline
Lower Bitcoin prices and reduced mining capacity have negatively impacted IREN's revenue.
Too little corroboration in the last 3 days to call a trend (4 articles). Watching for it to gain traction.
A mix of mainstream and niche sources — coverage is broadening.
"Mining revenue still slipped to $1.27 million from $1.37 million because the average value of the Bitcoin earned fell to about $73,594 from $96,225."
"I said earlier that hashprice is trending to zero. This is due to a combination of Moore’s law – as semiconductors improve, so too does the energy efficiency of ASIC miners, meaning miners can produce more hashrate with fewer electrons, which puts pressure on Bitcoin’s difficulty and reduces the rate of mining rewards per unit of hashrate – and the Halving."
"The decrease in net revenue reflected industry-wide pressure on bitcoin pricing, accompanied by elevated energy production costs during the period."
"The revenue also marked a 21.6% decrease compared to $184.7 million in the same period last year, primarily due to lower Bitcoin prices and reduced mining capacity."