CryptoQuant Founder: Bitcoin hash price hits a record low, some mining companies have switched to mining other PoW coins for hedging

ChainCatcher news, CryptoQuant founder and CEO Ki Young Ju posted on social media that the hash price of Bitcoin has reached an all-time low. Many mining companies have slowed down their investments in mining machines, and some companies are turning to other PoW currencies to hedge against market uncertainty.

Hash price is a term created by Bitcoin mining service company Luxor, referring to the expected value generated per day for every 1 PH/s or 1 TH/s of computing power. This metric quantifies the benefits that miners can expect to gain from a specific amount of computing power.