#Bitcoin miner Hash Price has plunged to a new all-time low of $58.3k per Exahash per day.
With $BTC prices now down over 76% from the peak, the mining industry remains under immense pressure.
Live Dashboard: https://studio.glassnode.com/dashboards/btc
As news of the FTX fallout broke last week, #Bitcoin miners distributed an additional 8.25k $BTC to shore up their balance sheets.
This leaves around 78k $BTC in miner treasuries, and erases all balance growth in 2022.
Live Dashboard: https://studio.glassnode.com/dashboards/btc-miner-capitulation-risk
To punctuate this point, #Bitcoin miners are currently spending at a rate of 135% of the daily issued coins.
This implies that in aggregate, miners are distributing all ~900 freshly minted $BTC, as well as an additional 315 $BTC from their treasuries each day.
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