The recent growth of Bitcoin has resulted in a more than 37% increase in the hash price, which has boosted miners' revenues.
According to the Hashrate Index, since March 11, the benchmark has grown from $0.061 per 1 TH/s per day to $0.083.
Matthew Schultz, CEO of CleanSpark, has said:
"For us, it's pure fat. When you look at the increase in the Bitcoin price, it's actually an additional cash flow of about $200,000 per day, assuming mining about 20 BTC during this period, as we have."
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Another factor that has positively influenced hash price growth has been the decrease in electricity rates this year:
"The market has helped us a lot. Electricity prices have plummeted. And when you're mining Bitcoin, this is the main cost element."
According to Glassnode, since the beginning of the year, the BTC hashrate (smoothed by a seven-day moving average) has increased from 254 EH/s to 321 EH/s, by about 26%.
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