Bitcoin Mining Hashprice Drops to $32.86 Following Surge in Network Difficulty

Bitcoin miner profitability faced heavy compression as weekly hashprice fell 8.7% to $32.86 per petahash per second per day on Nov. 2, down from $35.99. The decline follows a 16.4% jump in Bitcoin network difficulty, which rose from 127.45 trillion prior to Sept. 19 to 148.36 trillion on Oct. 29. Network computing power is projected to stabilize around 1,056 EH/s in November and 1,059 EH/s in December, prompting operators to utilize forward contracts averaging $33.04 per PH/s/day through April 2027 to manage margins.