Fundstrat: Bitcoin Hashrate Has Doubled, $7,300 Breakeven Mining Cost16.13

Cryptocurrency investors have had a rough year, to say the least, with the collective value of all crypto assets declining by over 80% in the span of eight months. In spite of this violent sell-off, miners have still been upping their investment into this nascent asset class.

As recently tweeted by Sam Doctor, Fundstrat Global Advisor’s quantitative strategist and analyst, the hashrate (hashpower) of the Bitcoin network has doubled since May, from ~28 quadrillion hashes per second (EH/s) to approximately 57 EH/s as it is today.

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