Bitcoin mining costs hit the skies despite the fall in coin’s value

Bitcoin mining costs to outpace Bitcoin price
Bitcoin mining costs hit the skies

Bitcoin mining community is in a state of panic as the Bitcoin hash rate is shooting up rapidly irrespective of the coin’s price. In fact, the difficulty of adding a block has increased significantly over the past one year. While the Bitcoin price [as of today $6,410] has been fluctuating, the hash rate hasn’t reduced, in the last four months, it has increased by 100 %. If the trend continues, the cost of mining one Bitcoin could very well cross the value of one Bitcoin itself.

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