CJ - Bitcoin Specialist
The cost of one BTC hash per Exahash dropped to an all-time low of $66,500
The hash price is at an all-time low, which means that Bitcoin miners are making less money
The revenue generated by a Bitcoin miner is also influenced by macroeconomic variables
According to glassnode on Twitter, the price of a Bitcoin hash is now at an all-time low of $66,500 per Exahash. Due to the all-time low hashprice, Bitcoin miners are making less money in relation to hash power.
On October 11, glassnode tweeted that a sharp rise in network hashpower has caused the Bitcoin Difficulty to hit a new record high. The cost of producing Bitcoin will climb along with the increase in hashpower, making things harder for the miners. As Bitcoin price continues to fall, so does the miners' profit margin due to the increasing hash price of BTC.
Additionally, according to crypto specialists, a number of macroeconomic factors have an impact on the income of Bitcoin miners. The BTC miners are now also being taxed by the growing cost of electricity in North America and Europe, bad energy policy, and Russia's conflict with Ukraine.
For those who are unaware, hashprice is the market price allocated to each hashing power unit. Dollars per terahash per second per day ($/TH/s/d) are used to calculate hashrate. The network becomes significantly more secure as a result of the increased hash rate, which also influences the Bitcoin exchange rate.
The cheapest place to buy Bitcoin is via a trusted Bitcoin broker – BCBitcoin.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.2. **Continued Operation Outside the UK:**
Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.3. **Withdrawal of Assets:**
For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing info@bcbitcoin.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.5. **Withdrawal Procedure:**
To initiate a withdrawal, please email your request to info@bcbitcoin.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at info@bcbitcoin.com Kind Regards