{
  "id": 2770027,
  "title": "Bitcoin slips under $77,000 as rally boosts mining economics",
  "url": "https://urgent.news/2026/08/23/bitcoin-slips-under-77-000-as-rally-boosts-mining-economics",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-23T09:58:05.000Z",
  "source": {
    "name": "Investing.com",
    "slug": "investing-com",
    "url": "https://www.investing.com/news/cryptocurrency-news/bitcoin-slips-under-77000-as-rally-boosts-mining-economics-4872436"
  },
  "original_language": "en",
  "account": "Bitcoin experienced a slight decline to $76,536 on Sunday, a drop of 0.8% from the previous day, despite earlier highs of $77,468. Investors analyzed improved miner profitability and Grayscale's assertion that the bear market might be nearing its end. Bitcoin had reached a peak of $79,461 on Friday before retreating, indicating a continuation of the downward trend following a significant rally spurred by lower U.S. Treasury yields, increased spot demand, and forced liquidation of bearish positions. As of 05:57 ET, Bitcoin was trading at $76,586.2, marking a 0.60% decrease. The recovery in price has provided a much-needed boost to miners. Bitcoin's hashprice, which represents the expected revenue from a single unit of computing power, surged by 20.4% over four days, reaching $38.29 per petahash per second, from $31.80 on August 18. Network computing power currently stands at approximately 922 exahashes per second, nearing the one-zettahash mark. Foundry USA held the title of the largest mining pool, followed by Antpool and F2Pool. In August, miners had earned a total of $682.69 million from block subsidies and transaction fees, with only $5.14 million coming from fees, leaving operators largely dependent on block rewards and Bitcoin's price. Zach Pandl, Head of Research at Grayscale, noted three factors that could bolster long-term buyers: sustained adoption, the maturation of the current bear market, and a generally favorable macroeconomic outlook. The bear market had lasted around 10 months, nearing the average duration of 11 to 12 months observed in Bitcoin's previous cyclical downturns. Grayscale connected longer-term adoption to growing government debt, increased blockchain utilization in financial services, and the evolving preferences of investors. As of August 20, U.S. public debt reached nearly $40.03 trillion. Interest rates remain the primary concern, with the Federal Reserve maintaining its policy rate at 3.5% to 3.75% in July, although three officials advocated for an increase. A potential rate hike could negatively impact non-yielding assets like Bitcoin. Additionally, research revealed a statistical correlation between higher European carbon prices and increased Russian power-sector emissions linked to Bitcoin mining. This may indicate a shift in which miners move machines between regions instead of physically relocating equipment. The introduction of regional bans on Russian mining since 2025 could hinder this approach. Other major cryptocurrencies also experienced slight changes on Sunday, with Ether falling by 0.09% to $2,411.01, XRP down by 0.36% to $1.4793, Solana up by 0.57%, and BNB declining by 0.21% to $689.48. Cardano saw the largest decrease, falling by 0.99% to $0.2206. Meme tokens showcased mixed performance, with Dogecoin up by 1.73% but TRUMP surging by 88.12%.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}