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Bitcoin’s global hashrate dropped ten days ago following a coal mine accident that caused significant grid blackouts in Xinjiang, China. While initial estimates had shown more than 40% of the hashrate dropped, statistics from a five-day average show the hashpower only lost around 25%. Meanwhile, Chinese miners located in Sichuan may put more pressure on … Read more
On Friday, April 2, 2021, Bitcoin’s mining difficulty is the highest it has even been in its lifetime but bitcoin miners still captured record revenues last month raking in $1.5 billion in coinbase rewards and transaction fees. Today, the blockchain’s hashrate is around 160 exahash per second (EH/s) with 17 pools dedicating hashpower to the … Read more
The publicly listed Canadian bitcoin mining operation Bitfarms has announced the firm is purchasing 48,000 Microbt Whatsminer mining rigs in order to expand capacity. Bitfarms highlights the acquisition of new miners will up the company’s hashpower by approximately 5 exahash per second (EH/s). Bitfarms to Acquire 48,000 High-Powered Bitcoin Miners from Microbt The Canadian bitcoin … Read more
Bitcoin miners have been yielding a very profitable year in monthly revenues, as the latest onchain data shows significant figures at its highest levels since 2019. Hourly Bitcoin Mining Revenues Hits 2019 Highs According to Glassnode, BTC miners are currently earning $1 million per hour, meaning an increase of 185% since the halving happened in … Read more
On December 28, the publicly listed firm Marathon Patent Group announced the purchase of 70,000 Antminer S19 bitcoin miners from Bitmain for $170 million. Marathon expects the shipments to complete in 2021, giving the mining operation over a hundred thousand ASIC miners or more than ten exahash of hashpower. Marathon Patent Group, Inc. (NASDAQ:MARA) revealed … Read more
Bitcoin’s hashrate climbed to an all-time high (ATH) this week touching 166 exahash per second (EH/s) on October 14. Meanwhile, despite the recent price rise and hashrate ATH on Wednesday, only a small group of next-generation mining rigs are profiting at current bitcoin exchange rates. The price of bitcoin (BTC) is hovering just above the … Read more
In mid-August officials from the Chinese province of Sichuan approved a number of enterprises that mine bitcoin for legal hydropower consumption in the region. Following the local government of Ya’an city deciding to foster mining, officials from Chengdu recently spoke about welcoming crypto mining at the Hashcon 2020 event as well as bolstering a blockchain … Read more
A new report by crypto research company Bitooda claims that China accounts for only 50% of global Bitcoin mining capacity, and the U.S. 14%. The data is in sharp contrast with earlier findings from the University of Cambridge Centre for Alternative Finance (CCAF), which put China’s share of the world hash rate at 65% and … Read more
On or around May 13, the BTC network will see a block reward reduction as miners will go from getting 12.5 coins per block to 6.25 coins following the halving. The last time the protocol’s block reward halved was on July 9, 2016, and the global economy looked a whole lot different back then. This … Read more
