Due to the market crash, it has been seen that <a href="https://www.cryptoknowmics.com/crypto/blockone-released-major-eosio-blockchain-software-update/">Bitcoin mining profitability</a> has reached the <a href="https://hackernoon.com/break-even-levels-of-various-miners-ya153n4u" target="_blank" rel="nofollow noopener">lowest </a>point ever in its history. Even the Hash rate which was always at high rates has also gone down due to this slowdown. 

Hash rate has gone down below 100,000,000 TH/s and the bitcoin mining profitability is $0.07 per T/Hash which is the lowest till date.
<h2>Lowest bitcoin mining profitability could cause an outflow of miners</h2>
As the mining profitability has gone to its lowest, it risks the outflow of miners. 

Although a  lot of experts have been seen hopeful for long-term bitcoin the market condition seems to be unfavourable. The price has been declining every single day and because of this, most of the miners are losing their faith. 

If the condition remains like this, then there might be a drop out of miners. If the miners will go out of the business then it will worsen the situation.

It has been reported that ASIC S9 had a very bad break-even rate. The reason is that the bitcoin price should be above $3,598 to make a profit through ASIC S9.

Although there are few miners who are still gaining profit as they are using ASIC S17. This will allow them to make a profit until and unless the price goes down below $3,598. 
<h2>Whether there will be further price slash?</h2>
During this time, the biggest question that is coming up is whether there will further decrease in BTC price. Willy Woo, who is an on-chain analysis expert has stated that if the condition will not improve then only the strongest miners will be able to survive. 

He also showed concern that if the price will continue to fall then economic slowdown will get even worse. 

Some are still hopeful that the situation will get better and it will have a rally this year.

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Bitcoin Mining Profitability Gone Down to the Lowest

Due to the market crash, Bitcoin mining profitability has reached the lowest point. Even the Hash rate has also gone down due to this slowdown. 

Vandana has received Master of Arts degree in English from GEU Dehradun. She is currently working as a content writer with Agio Support Solutions and earlier worked as a sub-news editor at Business News and Information Services Private Limited. She is an enthusiastic content writer and aims to bring a compelling yet informative content to the audience. Meanwhile, enhancing her own knowledge in the cryptocurrency and blockchain industry.

Bitcoin Mining Profitability Gone Down to the Lowest

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