Breakeven energy rate between $60 and $65 per mWh at current hashprice level

Bitcoin’s hashprice has continued to decline, even with a negative difficulty adjustment on Friday, rendering a wide range of mining equipment unprofitable at an average energy rate of $70/MWh.

Bitcoin’s mining revenue per unit of hashing power set a record low on Thursday, which was surpassed early Friday UTC as the hashprice plunged to $43.28/PH/s following yet another broader market sell-off.

As previously reported, Bitmain entered into an agreement with Core Scientific to host 4.1 EH/s of S19 XPs at Core’s facility for a hosting fee of $74.5/MWh. At such an energy rate, an S19 XP’s hashcost – or breakeven hashprice – would be about $39.3/PH/s.