Odaily Planet Daily News: Nick Hansen, CEO and co-founder of Luxor Technology, said that despite the current relatively positive trend in Bitcoin prices, this effect is not necessarily reflected in the crypto mining industry. This is because the mining economy is affected by a variety of factors other than the price of Bitcoin. Hansen pointed out that in this case, the more relevant indicator to pay attention to is the hash price, which is about $56 at press time. Hansen elaborated that the hash price takes into account the price of Bitcoin, but also includes mining difficulty and transaction fees charged by miners. "In the past 3 months, the hash price has hovered between $40 and $50, compared to about $80 a year ago, which is twice the former." Hansen said this shows that although the price of Bitcoin has been rising, the mining economy is relatively challenging. Jeff LeBerge, director of capital markets and strategic initiatives at Bitdeer Technologies Group (NASDAQ: BTDR), believes that Bitcoin’s record high is definitely a relief, “because increased profitability usually incentivizes more hash rates to come online, and previously unprofitable new miners or less efficient old miners can now be put back into use. As the industry continues to move toward commoditization, efficiency will become increasingly important in the next cycle.” (Cryptonews)

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