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Bitcoin’s price drop challenges miners as hashrate begins recovery

Bitcoin’s price dropped significantly from 108,364 USD on December 17 to 92,118 USD by December 20, compelling miners to adapt their strategies due to declining revenues in a volatile market.

The Bitcoin network’s hashrate decreased from 806 EH/s on December 14 to a low of 771 EH/s but has since rebounded to 781.98 EH/s, showing miners are adjusting to market changes.

The hashprice dropped from 65.10 USD per PH/s to 55 USD per PH/s, reflecting a 15.52% decline by December 23, which underscores the economic challenges facing miners.

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