Weekly Newsletter
28 Jun 2022

Cautious Optimism In Mainstream Markets

14 day average hashrate falls as the network continues adjusting to the prevailing economics of bitcoin mining

The past week has been a period of calm in contrast to the rest of June. Having spent the previous 7 days between $20k and $21.5k, bitcoin is currently trading at $21k. This coincides with optimism — albeit cautious — in mainstream markets, albeit subdued, as investors await June's inflation figure from the Bureau of Labor Statistics in 2 weeks' time.

The 14-day average Network Hashrate has fallen slightly week-on-week from 213 EH/s to 206 EH/s as the Network continues adjusting to the prevailing economics of bitcoin mining. Difficulty currently stands at 29.6T following last Wednesday's 2.3% downwards adjustment; early signs suggest a further 2% decrease mid-next week. Hash price is around $0.09 — slightly above earlier this month's $0.07 low.

Uzbekistan, neighbour of crypto-mining powerhouse Kazakhstan, has outlined an updated stance on bitcoin miners operating within its borders. The National Agency of Prospective Projects state proceeds of mining will be tax-free, although only power sourced through self-owned solar generation plants can be used — no problem in a country dubbed the Sunny Republic.

Network Metrics

Lake Parime Bitcoin Network Metrics 2022-06-28T12:00:00.000Z

Mining Hardware Price Update

Lake Parime ASIC Machine Prices (Blurred)
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