Bitcoin Mining Power Has Hit Record Highs

2020-1-8 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 Has Hit Record Highs appeared first on Crypto Briefing.

origin »

Bitcoin (BTC) на Currencies.ru

$ 92008.11 (-0.10%)
Объем 24H $57.229b
Изменеия 24h: -1.68 %, 7d: 0.51 %
Cегодня L: $91928.34 - H: $92664.54
Капитализация $1836.28b Rank 1
Цена в час новости $ 8087.43 (1037.67%)

bitcoin mining power growing number day exahashes

Источник: cryptobriefing.com

bitcoin mining → Результатов: 126


The future of Bitcoin mining, sustainable high-performance computing, and AI: An Interview with Cango Inc. CFO

Bitcoin mining has become one of the most competitive sectors in the digital asset economy, evolving from small-scale operations into large, industrialized networks that now secure the entire Bitcoin The post The future of Bitcoin mining, sustainable high-performance computing, and AI: An Interview with Cango Inc. CFO appeared first on AMBCrypto.

2025-9-25 14:20


Фото:

Bitcoin mining CEOs agree on $250k price target for 2028 halving

Bitcoin mining executives from top firms gathered at the HC Wainwright Bitcoin Mining Panel on Sept. 10 to discuss industry trends, challenges, and the future of Bitcoin. The panel, moderated by Anthony Scaramucci of SkyBridge Capital, featured CEOs from prominent mining companies, including Bit Digital, Bitfarms, CleanSpark, Core Scientific, and Marathon Digital Holdings.

2024-9-12 14:15


Фото:

Bitcoin Mining Emissions – Surprise New Research Findings

As the need to be more eco-friendly becomes ever more apparent, cryptocurrencies have often been sharply criticized for their environmental impact. Being the most well-known of them, Bitcoin has inevitably become tainted with a reputation for the high resource usage required for Bitcoin mining, However, newly released research might paint a slightly different picture and could start changing perceptions around these issues.

2024-9-10 15:17


Bitcoin’s Tightrope: Lower Mining Rewards And Fees Threaten Market Stability — Kaiko

Recent developments in the Bitcoin mining industry suggest a significant financial squeeze due to decreased network fees and halved block rewards. These factors are shaping the economic space for companies validating Bitcoin transactions and could potentially force some into selling their digital assets prematurely to remain solvent, according to Kaiko Research. Related Reading: Germany Shakes […]

2024-7-3 08:00


Is Bitcoin Mining ‘Dangerously Centralised’? What New Research Shows

Recent findings from BitMEX Research have reignited concerns about the centralization of Bitcoin mining. Their study, which cites insights from Bitcoin analyst Alex Bergeron, points out that a single entity now controls the Coinbase outputs for approximately 47% of the network hashrate—a significant concentration that suggests a shift toward oligopolistic tendencies within the Bitcoin mining […]

2024-4-30 12:00


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin-miner Bitmain Faces Federal Investigation Over National Security Issues: Report

Bitcoin Magazine Bitcoin-miner Bitmain Faces Federal Investigation Over National Security Issues: Report Bitmain, the Chinese manufacturer behind many of the world’s Bitcoin miners, has been under US national security scrutiny for potential espionage or sabotage risks, including in Trump family-backed ventures, though the company denies any wrongdoing.

Lower your power bill with Bitcoin – Why the grid needs to welcome miners

Power markets are starting to price Bitcoin mining that can switch on and off as a grid service. Curtailment remains elevated in regions with high renewable penetration, and short scarcity bursts continue to set value for fast demand reduction, which creates room for load that soaks midday surplus and idles during tight hours.