💸 Bitcoin Mining Faces Challenges Amid Record Hashrate

Bitcoin's hashrate recently hit an all-time high of 1 Zettahash per second (ZH/s), marking a significant increase in network security. However, this surge poses challenges for miners, as the network adjusts its difficulty, leading to reduced profitability.

With fixed rewards of 450 BTC per day until the next halving in 2028, the growing hashrate means miners must share rewards among more competitors, causing hashprice to drop from $60 to $40 in recent months.

Additionally, U.S. miners are grappling with rising equipment costs due to tariffs imposed during the Trump administration, further squeezing their profit margins. To survive, miners are focusing on operational efficiency and investing in more advanced technology.

Source.

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💬 🔍 Opinion: Here’s why Bitcoin and altcoin prices may surge after the crypto Black Monday.

📉 Price Decline:

Bitcoin fell to $74,428 on April 7, which is 31% lower than its peak this year. Ethereum dropped below $1,500, and other altcoins, such as Berachain (-18.83%), Zcash (-19.22%), and Litecoin (-10.65%), also experienced significant losses.

Market Correlation:

The crash in the crypto market coincided with a decline in the stock market, where the Dow Jones, Nasdaq 100, and S&P 500 indices fell by more than 5%. This is linked to trade tensions and tariffs imposed by President Trump, raising recession concerns.

Recovery Factors:

🇯🇵🇺🇸🇻🇳 Negotiations:

Trump is open to negotiations with Vietnam and Japan, which could lead to trade agreements.

🔽Rate Cuts:

The Federal Reserve is expected to lower interest rates, which could support the economy.

Outlook:

A combination of trade negotiations and rate cuts may help restore the crypto market, similar to the recovery seen in 2021.

Source.

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💸 Bitcoin’s hashrate has reached 1 Zetahash per second for the first time in its 16-year history, marking a major milestone in network security and mining power, per report.

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🪙 🇯🇵 Metaplanet announced it has fully repaid ¥2 billion ($13.5M) in zero-interest bonds five months early, strengthening its financial position after using the funds to acquire Bitcoin.

📊 #BTC Glassnode: The open interest in BTC futures stands at $34.5 billion. Although there was a brief recovery on April 3 from a low of $33.8 billion, the broader downward trend remains. Futures risks continue to decrease.

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🩸 SoSoValue:

The net outflow of funds from spot Bitcoin ETFs yesterday was $109,210,000 (the third consecutive red day).

Source.

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👀 Will MicroStrategy sell its BTC?

🗣 In the latest Strategy report to the SEC, it is stated:

Since bitcoins are a significant part of our assets, if we are unable to raise capital or borrow money on favorable terms, we may have to sell bitcoins to meet our financial obligations. This sale could be at a price lower than our purchase or simply unprofitable.

Source.

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💥 BlackRock Adds Anchorage Digital as Custodian for Bitcoin ETF

BlackRock has appointed Anchorage Digital Bank N.A. as an additional custodian for the iShares Bitcoin Trust ETF (IBIT), according to a Form 8-K filing dated April 7.

This introduces a dual-custodian model with Anchorage Digital and Coinbase, enhancing the security of IBIT's Bitcoin holdings. Anchorage Digital is the only federally chartered digital asset bank in the U.S., offering custody and staking services.

The partnership addresses the growing demand for digital assets among retail and institutional clients. Robert Mitchnick from BlackRock noted that Anchorage Digital meets the company's high standards.

Additionally, BlackRock has received approval from the UK FCA to operate as a crypto asset firm and launched the Bitcoin ETP (IB1T) on Euronext Paris and Amsterdam with a temporary fee waiver.

Source.

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🧐 "BTC is the perfect savings tool for countries looking to move away from dependence on the US dollar," said the CEO of Bitwise.

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⛏ #BTC CEO Hashlabs: The massive tariffs imposed by the Trump administration could collapse the demand for BTC mining equipment in the U.S., benefiting mining companies outside the country.

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🧐 Opinion: Did MicroStrategy sell 8,450 BTC? – Sani

The founder of Timechain Index suggests that the transfer of 8,450 BTC ($700m) may not just be a movement of assets to new wallets, but rather a sale of Bitcoin to fulfill or secure loan obligations.

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📊 Despite its apparent resilience, Bitcoin has a chance to catch up with US stocks in the race to the bottom, amid Donald Trump's imposition of tariffs.

🥸 Donald Trump implemented a 90-day pause on tariffs for countries that have not imposed retaliatory measures against the U.S. or where the rate is 10%. However, for China, tariffs have increased to 125%.

💸 Bitcoin and the stock market are responding with significant growth. BTC prices have risen to $81,500.

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📊 CQ: The BTC reserves on Binance have increased by 22,106 BTC.

This indicates a strong acceleration in the inflow of BTC to Binance due to macroeconomic uncertainty and ahead of the upcoming Consumer Price Index announcement.

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📊 #BTC Glassnode: the level at $71,000 is critically important for BTC. If it falls below this, it may face significant risks of decline.

Source.

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🩸 SoSoValue: The net outflow from spot Bitcoin ETFs yesterday amounted to $127,120,000 (5 consecutive red days).

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👀 💸 Bitcoin has fully recovered from the drop caused by the "tariff black swan" and has returned to pre-crash levels. It looks strong and structurally sound, with a chance for a reversal.

The market shows confidence, as many who wanted to sell have already exited.

However, risks remain, and new volatility could arise at any moment due to trade wars between the U.S. and China. Breaking new lows will be more challenging, as stronger triggers will be needed for that.

Source.

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🇺🇸⛏ #BTC Arizona passes a bill to protect rights for BTC mining.

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💸 📈The number of public companies with bitcoin on their balance sheets has increased to 100, up from about 70 in the fall of 2024, according to River. The largest are pictured.

🇸🇪 Sweden plans to create a Bitcoin reserve - similar to the US, it is proposed not to sell existing confiscated coins, but to buy cryptocurrency for the reserve at taxpayers' expense.