Bitcoin Mining Power Hits Record Highs

2020-1-9 13:16

Bitcoin (BTC) is seeing more computational power invested in coin generation than ever before.

As of Jan. 6, Bitcoin’s mining network has reached a hashrate of 120 exahashes per day. This number has been growing steadily over the past decade, but it has grown significantly in recent months. In the last year alone, the network has tripled.

Bitcoin hashrate, via Bitinfocharts

It’s unclear how rising hashrates will affect the price of BTC, as they may encourage or discourage investment. Furthermore, trading activity and overall market sentiment may have a greater effect on prices.

BTC is currently trading at $8,311, and some analysts have suggested that it is on the verge of a price breakout in either direction.

Litecoin’s Hashrate Is Lower

Unlike Bitcoin, Litecoin‘s hashrate is on the decline. The coin’s hashrate currently stands around 150 terahashes per day, the lowest it has been since January 2019.

This is seemingly due to Litecoin’s recent reward halving, which sliced block rewards in half last August. Falling profits likely caused many miners to leave the network.

Litecoin hashrate, via Bitinfocharts

However, Litecoin’s low hashrate is not necessarily a bad thing. Analyst Willy Woo has noted that although the halving resulted in Litecoin’s largest miner capitulation to date, the coin’s difficulty ribbon is “now in recovery.” In addition to drawing miners back to Litecoin, this could have positive effects on the price of LTC.

Industry Developments

The crypto mining industry has been pushing forward regardless of hashrates. SBI Holdings has announced plans to open a mining facility in Texas, while Argo Blockchain has announced that it has added 3,600 new mining machines to its cloud mining service.

Finally, Bitmain and Canaan have revealed new and improved mining chips. Not all is well in the mining community, however.

Bitmain, one of the largest outfits in the sector, may lay off several of its employees in advance of Bitcoin’s upcoming reward halving. Elsewhere, the Canadian mining firm Great North Data has filed for bankruptcy.

The mining industry is highly competitive with little room for extra expenses—something that is true regardless of mining conditions.

The post Bitcoin Mining Power Hits Record Highs appeared first on Crypto Briefing.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 98543.35 (+0.02%)
Объем 24H $66.75b
Изменеия 24h: -0.17 %, 7d: 7.84 %
Cегодня L: $98439.13 - H: $99414.82
Капитализация $1949.803b Rank 1
Цена в час новости $ 8065.53 (1121.78%)

bitcoin power mining number months per exahashes

Источник: cryptobriefing.com

bitcoin power → Результатов: 126


Фото:

PoWx Seeks to Change Bitcoin Mining with “Optical PoW”

Nonprofit organization PoWx has launched this week with the goal of boosting the idea behind proof of work (PoW) through more innovative algorithms. The company is seeking to decentralize Bitcoin mining and make it more accessible to consumers through a new technology that executives have dubbed “optical PoW” — a new type of hardware that utilizes a more advanced and energy-efficient form of laser technology as the cornerstone of mining.

2018-7-14 01:04


Фото:

The Genesis Files: With Bit Gold, Szabo Was Inches Away From Inventing Bitcoin

As his Hungarian parents had fled post-war Soviet regime to settle in the United States, Nick Szabo came to call the Californian Bay area of the 1990s his home. Here, he was among the first to frequent the in-person “Cypherpunk” meetings organized by Timothy May, Eric Hughes and other founding members of the collective of cryptographers, programmers and privacy activists centered around the ’90s mailing list of the same name.

2018-7-13 17:16


Фото:

Uber Angel Investor Believes Bitcoin Will ‘Solve Biggest Problems With Fiat’

Early Bitcoin investors continue to bet on Bitcoin’s potential. For example, angel investor Jeffrey Wernick started investing in the “the currency of the people,” as he calls it, in 2009. Wernick believes that Bitcoin’s formidable power resides in the fact that its value “comes from its ability to solve the biggest problems with fiat money.

2018-7-12 11:00


Фото:

Swiss Stock Exchange Operator Plans to Launch Crypto Exchange

SIX, the firm that operates and owns the Swiss stock exchange, has announced plans to launch a fully regulated digital cryptocurrency exchange. The firm says it plans to launch "the first market infrastructure in the world” which will “offer a fully integrated end-to-end trading" while providing a safe environment where digital assets can be issued and existing securities and non-bankable assets can be tokenized.

2018-7-7 23:11


China Floods Wipe Out Crypto Mining Farms, Bitcoin Hashrate Drops

The cumulative hashing power dedicated toward Bitcoin took a hit this week after extensive flooding of mining centers in Sichuan, China. Eric Meltzer, a partner at China-based blockchain focused fund INB, published a tweet on June 29, 2018, depicting mining hardware destroyed by flooding within the Sichuan region: Rumors that a huge flood in Sichuan took […] The post China Floods Wipe Out Crypto Mining Farms, Bitcoin Hashrate Drops appeared first on CryptoSlate.

2018-7-2 17:00


AVINOC: The Blockchain Solution Disrupting the Global Aviation Business

Bitcoin Press Release: AVINOC (Aviation Network Operation Chain) is a platform for the global General Aviation (GA) businesses, using a new concept and innovative Blockchain technology. AVINOC aims to bring the power of decentralization and the speed of blockchain systems into the GA, especially into the Business Aviation (BizAv) sector and as a second step […] The post AVINOC: The Blockchain Solution Disrupting the Global Aviation Business appeared first on Bitcoin PR Buzz.

2018-7-2 12:37


Джон Макафи призвал бойкотировать биржу HitBTC

Программист и миллионер Джон Макафи призвал бойкотировать криптовалютную биржу HitBTC в связи с тем, что бедные люди не могут позволить себе пользоваться её услугами. The crypto exchanges have become the thing that we have originally fought against.

2018-7-2 10:36


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Galaxy Digital to raise $300m for Helios data center expansion

Galaxy Digital is launching a $300 million private offering of exchangeable senior notes due 2029 to fund the expansion of its West Texas Helios data center and support corporate initiatives. Mike Novogratz’s Galaxy Digital Holdings announced on Nov. 20 that…

Bit Digital’s Q3 revenue jumps 96% amid HPC strength

Bit Digital posted nearly $23 million in Q3 revenue, a 96% increase year-over-year, driven by strong growth in its high-performance computing business. Bitcoin (BTC) mining firm Bit Digital said in a Q3 earnings report that its revenue for the quarter…