, an influential advocate and advisor to the president of El Salvador, recently took to social media, suggesting an implied hash-adjusted price for that surpasses $400,000. While this sparks speculation about potential price models, the practical implications are exerting increasing pressure on miners grappling with a substantial dip in profitability.
The parallel surge in both hash rates and presents a paradox for the mining community. A heightened hash rate signifies that miners must intensify their efforts to secure the next block, translating into elevated operational costs and a challenging operational landscape.
The profitability decline is underscored by a significant decrease from the 2023 peak on Dec. 17. This shift in hash price dynamics is a clear reflection of the diminishing enthusiasm surrounding inscription hype, which, in their heyday, led to increased demand and subsequently, elevated transaction fees.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
