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

CryptoQuant founder and CEO Ki Young Ju posted on social media that Bitcoin's hash price has hit a new historic low. Many mining companies have slowed down their investment in mining machines, and some companies have turned 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 that can be generated per day with 1 PH/s or 1 TH/s of computing power. This indicator quantifies the benefits that miners can expect to receive from a specific amount of computing power.

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