Bitcoin Mining Is About Get Tougher With Difficulty Primed for Another Sharp Rise

However, it’s not all doom and gloom. With weaker miners squeezed out, the survivors are set to thrive, according to Chris Brendler, an analyst at Wall Street investment bank DA Davidson. โ€œMiners with higher power costs, less efficient operations, and/or leverage have underperformed while the strongest positioned are set to thrive as the “crypto winter” is already squeezing out disadvantaged players,โ€ said Brendler. Source

Grayscaleโ€™s New Venture Aims to Capture Bear Market Opportunities in Bitcoin Mining

The crypto winter has clearly been rough for the miners, who have seen profit margins shrink as bitcoin prices plunged more than 50% this year, while power prices soared and capital dried up. This has directly hurt prices for infrastructures required for bitcoin mining, including the highly specialized computers, which were in high demand during last yearโ€™s bull run, driving up prices to all-time-highs, according to an index maintained by Luxor Technologies. Prices for the mining machines have since crashed near their 2020 lows this year and in some instances,…

Bitcoin’s Total Network Hashrate Hits an All-Time High at 321 Exahash per Second โ€“ Mining Bitcoin News

According to statistics on October 5, the total computational power backing the Bitcoin network tapped a fresh all-time high reaching 321.15 exahash per second (EH/s). Just after the record high, the networkโ€™s total hashrate was coasting along above the 300 EH/s on Wednesday afternoon (ET) at around 303.87 (EH/s). Bitcoinโ€™s Hashrate Reaches a Lifetime High in Terms of Hashes per Second On Wednesday, at block height 757,214, statistics from coinwarz.com shows Bitcoinโ€™s total hashrate reached an all-time high (ATH). BTCโ€™s network hashpower data indicates that the last hashrate ATH was…

Federal Energy Agencies’ Unwillingness to Act on White House’s Crypto Mining Recommendations Miffs US Lawmaker โ€“ Regulation Bitcoin News

Jared Huffman, a United States lawmaker who advocates for increased scrutiny of crypto-mining entities, has reportedly chastised U.S. energy agencies that he accuses of failing to act on the White Houseโ€™s call on them to do โ€œreliability assessments of current and projected crypto-asset mining operations on electricity system reliability and adequacy.โ€ However, a commissioner at the Federal Energy Regulatory Commission, Allison Clements, insists crypto mining should not be singled out from grid studies. Agencies Reviewing White House Recommendations Jared Huffman, a United States House of Representatives member, has reportedly queried…

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Argentine Oil Subsidiary YPF Luz Powering Bitcoin Mining Activities With Residual Gas โ€“ Mining Bitcoin News

YPF Luz, a subsidiary of the Argentine state oil company YPF, is currently piloting a project to power bitcoin mining operations with residual gas. The initiative, which is currently being tested in Vaca Muerta, one of the biggest oil fields in the country, seeks to take advantage of this byproduct from the initial stages of oil well drilling. Argentine Company YPF Luz Takes Bitcoin Mining to the Oil Wells Cryptocurrency miners are always looking for new forms of getting cheap and convenient power sources to run mining operations.…

Data Shows Bitcoin’s Hashrate Has Grown by More Than 4 Quadrillion Percent Since 2009 โ€“ Mining Bitcoin News

Following the network difficulty change six days ago on September 27, Bitcoinโ€™s hashrate surpassed the 295 exahash per second (EH/s) range two times during the first two days of October. Presently the network is coasting along at 229 EH/s and block intervals have been faster than the ten-minute average, which means another upward difficulty adjustment is likely in the cards. With Bitcoinโ€™s mining difficulty looking as though it will reach another all-time high (ATH), the networkโ€™s hashrate has increased exponentially from six million hashes per second to the recent two…

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