Hashprice

Hashprice is the single most important unit of measure for a Bitcoin miner's revenue: it expresses how much a given amount of hashrate is expected to earn in a day. It is quoted in USD/TH/s/day (or BTC/TH/s/day for the currency-agnostic version). One terahash of mining power earning, say, $0.05/day means the miner's hashprice is five cents. The term was coined by Luxor Technology in 2019 and is now the industry-standard way to talk about mining economics, the same way an exchange rate translates computing power into cash flow.

What drives it

Hashprice is a function of four variables: the price of bitcoin, total network difficulty, the block subsidy (currently 3.125 BTC after the 2024 halving), and transaction-fee revenue. It rises when bitcoin's price climbs or when mempool fee pressure is heavy, and it falls when more hashrate comes online and difficulty adjusts upward. Critically, hashprice can fall even while BTC rises, if competing hashrate grows faster than price, every miner's slice of the same reward pie shrinks.

Why miners watch it daily

Because hashprice captures revenue per unit of work independent of fleet size, it lets an operator compare a single home rig against an industrial Hashcenter on equal footing. Pairing hashprice with a machine's efficiency (J/TH) and local power cost tells you, at a glance, whether each terahash is making or losing money today. When hashprice drops below a fleet's all-in production cost for a sustained period, weaker operators are pushed toward shutdown.

To translate hashprice into your own situation, combine it with your break-even electricity price and watch the hash ribbon for signs of network-wide stress.