Thursday, 26 December 2019

Litecoin Mining Hash Rate Drops by 75% in 2019, Profitability Reaches Critical Level

By Nivesh Rustgi 

litecoin mining

  • The total Hash Rate of Litecoin [LTC] Mining reached its’ yearly lows, despite reaching ATH in July this year (a 75% drop from its ATH).
  • The profitability of LTC mining has turned negative at electricity cost above $0.075 Kwh.

Litecoin [LTC] miners seem to be getting cold feet due to falling prices as the hash rate falls below the bearish levels of 2018. However, a lot has changed with the protocol since then. The most important of them has been a reduction in the mining rewards by half.
Litecoin [LTC] has been trading around the $40 range for quite sometime now. During 2018 bears, the max. volume profile region was around $33. Hence, an overall 40% reduction in the mining rewards.

 The totol hashrate has dropped about 75% for its All-Time High in July. The drop in the price from yearly is correlated with the hash rate. Moreover, there is also an equivalent drop in difficulty hence the competition in the space seems to be diminishing.

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