• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: DOJ's Largest Bitcoin Seizure: $15 Billion In BTC Linked To Cambodian 'Pig Butchering' Scam
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: DOJ's Largest Bitcoin Seizure: $15 Billion In BTC Linked To Cambodian 'Pig Butchering' Scam
Bitcoin

Bitcoin Hashrate Erases Recovery As BTC Price Continues Bearish Action

Keshav Verma
by Keshav Verma
1 year ago
·
Posted in Bitcoin News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

On-chain data shows the Bitcoin Hashrate has slumped back down recently as the cryptocurrency’s price has continued in a bearish trajectory.

Bitcoin Mining Hashrate Has Retraced Its August Recovery

The “Mining Hashrate” refers to a Bitcoin metric that keeps track of the total amount of computing power that the miners have currently connected to the BTC network.

When the value of this metric goes up, it means new miners are joining the blockchain and/or old ones are adding to their facilities. Such a trend implies that the network looks like an attractive venture to these chain validators.

Related Reading: Bitcoin Diamond Hands Still Unbroken: 30.7% Of Supply Dormant For 5+ Years

On the other hand, the indicator registering a decline implies some of the miners have decided to disconnect from the chain, potentially because BTC mining is no longer profitable for them.

Now, here is a chart from Blockchain.com that shows how the 7-day average Bitcoin Mining Hashrate has changed over the past year:

Bitcoin Mining Hashrate

Looks like the value of the metric has gone down in recent days | Source: Blockchain.com

As is visible in the above graph, the 7-day average Bitcoin Mining Hashrate had shown a rise in the middle of last month and had made recovery to levels not far from its all-time high (ATH) set back in July.

Towards the end of the month, however, the indicator had started going down instead and now, it has retreaded to almost the same lows as in the first-third of August.

The explanation behind these trends may lie in the fact that the miners depend on the BTC spot price for their profit margin. This is because the block subsidy, which they receive as compensation for solving blocks on the network, makes up for the primary part of their income.

These rewards are given out at a fixed BTC value and at a fixed time interval, so the only variable related to them is the USD price of the cryptocurrency. With the price struggling with bearish winds again recently, it makes sense that miners have been downsizing their operations.

As has historically been the case, though, this recent drop in the 7-day average Bitcoin Mining Hashrate may not stick for too long, with any fresh surges in the price likely to renew uptrend in the metric.

Related Reading: Bitcoin Plunges Under $58,000 As Coinbase Users Take To Selling

Besides the Hashrate, another indicator that could perhaps showcase miner distress is the Miner Reserve, which measures the total amount of Bitcoin that’s currently sitting in the wallets related to these chain validators.

As analyst Ali Martinez has pointed out in an X post, miners participated in a notable amount of selling over the weekend.

Bitcoin Miner Reserve

The trend in the BTC Miner Reserve over the past month | Source: @ali_charts on X

In total, the Bitcoin miners removed 2,655 BTC from their wallets during this window, which is worth more than $156 million at the current exchange rate of the cryptocurrency.

BTC Price

At the time of writing, Bitcoin is floating around $59,000, down over 5% in the last seven days.

Bitcoin Price Chart

The price of the coin appears to have been moving sideways over the past few weeks | Source: BTCUSD on TradingView
Featured image from Dall-E, CryptoQuant.com, Blockchain.com, chart from TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Keshav Verma

Keshav Verma

Follow

Keshav is a Physics graduate who has been employed as a writer with Bitcoinist since June 2021. He is passionate about writing and through the years, he has gained experience working in a variety of niches. Keshav holds an active interest in the cryptocurrency market, with on-chain analysis being an area he particularly likes to research and write about.

Full Profile

Related Posts

Bitcoin

Bitcoin Retail Sentiment Turns Sour As Tariff Shock Triggers Panic – Here’s How They Reacted

3 hours ago
Bitcoin Strategy

Strategy Resumes Bitcoin Buying: Another 220 BTC Added

10 hours ago
Bitcoin news whale CZ Hyperliquid

CZ Exposes Bitcoin Whale Who Made $192 Million From Friday’s Crash

15 hours ago
Bitcoin OG Sends Another 100 BTC to Kraken After $160 Million Short

Bitcoin OG Sends Another 100 BTC to Kraken After $160 Million Short

16 hours ago
Bitcoin

‘Stay Away From Bitcoin’: Top UK Investment Firm Issues Strong Warning—Find Out Why

17 hours ago
Bitcoin Market Structure Resets For A Fresh Start: Data Hints At Price Recovery

Bitcoin Market Structure Resets For A Fresh Start: Data Hints At Price Recovery

18 hours ago

Premium Sponsors

Press Releases

  • Altseason Buzz Grows as Tapzi Presale Crosses a Major Milestone – Is This the Best Crypto Presale to Invest in?

    Altseason Buzz Grows as Tapzi Presale Crosses a Major...

    12 hours ago
  • XRP Price Prediction 2025: Analysts Predict $5 to $12...

    12 hours ago
  • Best Crypto to Buy: Michael Saylor Unveils Bitcoin Risks as Tapzi, Arbitrum Eye Major Upside.

    Best Crypto to Buy: Michael Saylor Unveils Bitcoin Risks as...

    13 hours ago
  • ตัวการ์ตูน Snorter ขนสีน้ำตาลทำหน้าทะเล้นพื้นหลังสีฟ้า

    เหลืออีก 7 วัน! Snorter Bot Token...

    14 hours ago
  • Bitcoin Hyper ระดมทุนพุ่ง 23...

    1 day ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.