Miners regain 20% in four days: Hashprice rises from $31.80 to $38.29, but still can’t keep up with how fast the coin price is falling
The BTC miner revenue indicator, Hashprice, rose 20.41% over four days, and miners’ days are slightly better.
Hashprice measures how much money can be mined per unit of hashrate. On August 18, it was still at a low of $31.80/PH/s. By August 22, it had climbed to $38.29, rebounding 20.41% in four days. This is still below the level at the beginning of the year, but at least it gives struggling miners on the cost line a chance to breathe.
The pool landscape hasn’t changed much: Foundry USA remains No. 1 at 214.73 EH/s, Antpool is second at 156.17 EH/s, and F2Pool is third at 110.62 EH/s. In total, there are 133 pools of various sizes and individual miners still running worldwide. The competitive landscape is fragmented, but the top players are concentrated.
Impact on the market
- Short term: Hashprice’s rebound is a marginal positive for BTC. With the reduced selling pressure from miners, the demand to sell coins each day to cover electricity costs decreases. As a result, sell-side pressure near $76,065.43 should be lighter. BTC is down 1.66% over the last 24 hours today, suggesting this positive factor hasn’t yet been priced in by the market.
- Medium term: Repaired miner income = improved network security = stronger chip-locking (capital retention) willingness. This is a slow variable, but it does have real significance for supporting the bottom area.
My take
I’m bullish on BTC’s 12-hour performance. The logic is simple: Hashprice up 20.41% isn’t just sentiment—it’s a real improvement in revenue. Miners shift from “forced selling” to “able to hold,” tightening the supply side. Currently at BTC $76,065.43, if it holds, there should be more fuel for the rebound than yesterday. The risk is that if the broader market continues to drift lower, the improved miner income will be quickly absorbed by the falling coin price, and Hashprice’s rebound could be only a brief pause during the decline. ETH has relatively lower correlation; $2,391.03 will most likely continue to track BTC.
- Asset: BTC / ETH
- Direction: Bullish 📈 Forecast to rise
- Duration: BTC 12 hours / ETH 24 hours
$BTC $ETH #BTC #ETH
📊 Historical backtest
- After news similar to “Michael Saylor has become the ‘best Bitcoin miner’—here’s why” (2024-11-19) was published, BTC 12h rose/fell by -0.85%; bullish prediction ❌ incorrect
- There are 282 bullish-type BTC news items in history. In 122 cases, the predicted direction matched the actual move (accuracy 43%)
#Mining company updates
⚠️ Not investment advice
The BTC miner revenue indicator, Hashprice, rose 20.41% over four days, and miners’ days are slightly better.
Hashprice measures how much money can be mined per unit of hashrate. On August 18, it was still at a low of $31.80/PH/s. By August 22, it had climbed to $38.29, rebounding 20.41% in four days. This is still below the level at the beginning of the year, but at least it gives struggling miners on the cost line a chance to breathe.
The pool landscape hasn’t changed much: Foundry USA remains No. 1 at 214.73 EH/s, Antpool is second at 156.17 EH/s, and F2Pool is third at 110.62 EH/s. In total, there are 133 pools of various sizes and individual miners still running worldwide. The competitive landscape is fragmented, but the top players are concentrated.
Impact on the market
- Short term: Hashprice’s rebound is a marginal positive for BTC. With the reduced selling pressure from miners, the demand to sell coins each day to cover electricity costs decreases. As a result, sell-side pressure near $76,065.43 should be lighter. BTC is down 1.66% over the last 24 hours today, suggesting this positive factor hasn’t yet been priced in by the market.
- Medium term: Repaired miner income = improved network security = stronger chip-locking (capital retention) willingness. This is a slow variable, but it does have real significance for supporting the bottom area.
My take
I’m bullish on BTC’s 12-hour performance. The logic is simple: Hashprice up 20.41% isn’t just sentiment—it’s a real improvement in revenue. Miners shift from “forced selling” to “able to hold,” tightening the supply side. Currently at BTC $76,065.43, if it holds, there should be more fuel for the rebound than yesterday. The risk is that if the broader market continues to drift lower, the improved miner income will be quickly absorbed by the falling coin price, and Hashprice’s rebound could be only a brief pause during the decline. ETH has relatively lower correlation; $2,391.03 will most likely continue to track BTC.
- Asset: BTC / ETH
- Direction: Bullish 📈 Forecast to rise
- Duration: BTC 12 hours / ETH 24 hours
$BTC $ETH #BTC #ETH
📊 Historical backtest
- After news similar to “Michael Saylor has become the ‘best Bitcoin miner’—here’s why” (2024-11-19) was published, BTC 12h rose/fell by -0.85%; bullish prediction ❌ incorrect
- There are 282 bullish-type BTC news items in history. In 122 cases, the predicted direction matched the actual move (accuracy 43%)
#Mining company updates
⚠️ Not investment advice
