bitcoin hash rate

Daily Bitcoin Miner Revenue Reached New Peak Amid BTC Rall, Exceeding April 2021 Levels

Bitcoin mining earnings reached their highest-ever level recently, coinciding with the ongoing surge in the value of the leading crypto asset. According to the figures compiled by CryptoQuant, miners made a daily revenue of $78.6 million on March 7, surpassing the previous record set during the peak of the crypto boom in April 2021. Miners...
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Bitcoin Miners Earned $75.9 Million in Daily Revenue, Second-Highest in History

Amidst the market-wide rally, Bitcoin miners appear to be reaping substantial rewards. On March 6th, they earned a staggering $75.9 million in daily revenue marking the second-highest figure in the leading crypto asset’s history. This also represented a notable increase of 30.74% from the previous day and a remarkable surge of 293.1% compared to the...
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Will Bitcoin’s Hash Rate Drop by 20% Ahead of Next Halving? (Research)

As Bitcoin’s highly anticipated halving event approaches, new research from Galaxy Digital suggests that up to 20% of the cryptocurrency’s current hash rate could go offline. This reduction is expected to impact eight specific ASIC mining machine models, leading to a drop in the network’s overall hash rate. Galaxy Digital’s Projections Galaxy’s mining analysts revealed...
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CleanSpark Anticipates Doubling Operating Hash Rate Ahead of Bitcoin Halving

CleanSpark Inc., a prominent participant in the Bitcoin mining industry, has unveiled plans to increase its operating hash rate. The company aims to double its hash rate in preparation for the upcoming Bitcoin halving event. In light of this, the firm has revealed strategic acquisitions and expansion initiatives to enhance its mining capabilities and geographic...
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Bitcoin’s Hash Rate Hits All-Time High on Christmas, But It’s Not All Good News

Bitcoin’s hash rate reached a record-breaking 544 exahashes per second (EH/s) on December 25, marking a remarkable 130% increase since January, when it stood at 253 EH/s. The surge in hash rate coincides with Bitcoin’s price skyrocketing by over 150% in 2023. While this may seem like a positive development, it brings added challenges for...
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Bitcoin’s Hash Rate Jumps 169% in YTD, Hitting New All-Time High: Data

According to the data compiled by Bitinfocharts, Bitcoin’s hash rate reached a new all-time high yet again, climbing 547.79 Ehash/sec on November 19th. It broke the previous record of 526.71 established earlier this month. The latest jump represents over 169% increase since the beginning of the year from 203.58 Ehash/sec. Data suggests that the average...
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Bitcoin Hashrate Hits New Peak as Miners Feel The Pressure

Bitcoin network “horsepower” continues to climb, which is good news for its security but bad news for miners who are now facing more competition than ever.  Bitcoin’s hashrate hit a new peak on October 12 of 447 exahashes per second, according to Blockchain.com.  Bitinfocharts has a slightly higher average figure of 481 EH/s, but both...
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Growing Complexity in Bitcoin Mining Landscape Amidst Centralization Risks: Coin Metrics

While the Bitcoin market remained relatively stable in the latter part of Q3 as discussions about spot ETFs subsided, the hash rate exhibited consistent growth throughout the quarter. It recently reached a fresh milestone, surging from 250 EH/s at the start of 2023 to more than 400 EH/s this month. Bitcoin mining difficulty is also...
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Bitcoin Miner Revenue Shed 50% in 3 Months: Data

While Bitcoin network fundamentals such as hash rate and difficulty have reached peaks, the same cannot be said for its hash price. The world’s largest crypto’s price has failed to recover, and miners are facing the brunt of it yet again. Bitcoin hash price – which can be described as the revenue generated by miners...
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Bitcoin Mining Difficulty Soars to New ATH as BTC Price Struggles

Bitcoin plunged below the $26,000 level on Wednesday extending monthly losses to nearly 15% but it has never been more difficult to mine the leading crypto-asset. Despite a severe drawdown in price, Bitcoin’s network fundamentals have largely refrained from following the same trajectory. In fact, Bitcoin’s mining difficulty has reached an all-time high of 55.62...
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Bitcoin Records 661% Increase in Hash Rate in 2 Years: Data

The choppy market has caused severe headwinds for Bitcoin miners as the hash rate reaches new record highs. The rise comes ahead of the much anticipated halving event slated for next spring that is expected to catalyze the largest crypto asset’s price action. Recent data suggested that Bitcoin’s hash rate has increased by nearly 661%...
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Bitcoin Mining Difficulty Exceeds 50T for the First Time

Bitcoin’s price is still stuck in a narrow range, but it has never been more difficult to mine the world’s largest crypto-asset than it is now. Its network fundamentals paint a decisively bullish picture. According to data from BTC.com, the Bitcoin mining difficulty surged this week to 50.68 trillion, setting a fresh all-time high. The...
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Bitcoin Network Difficulty Skyrockets Alongsite Hash Rate: Data

After severe turbulence in the Bitcoin mining industry last year, there seems to be a significant resurgence since the start of 2023. While it has become even harder to mine BTC, miner revenue has also increased in a much-needed respite for such entities. Bitcoin’s network hash rate, which has been on a steady uptrend, has...
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Fighting Bears: Bitcoin Miner Riot Blockchain Hashrate Reached an ATH in 2022

The Colorado-based bitcoin miner – Riot Blockchain – reported a total revenue of nearly $260 million for 2022, a 22% increase compared to 2021. It mined 5,554 BTC and boosted its hash rate capacity to an all-time high of 9.7 EH/s. The positive results come in spite of the devastating bear market that reigned during...
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Bitcoin Mining Revenue Surged by 140% Since Christmas

The total bitcoin mining revenue (block rewards plus transaction fees) per day soared by almost 50% since the beginning of the month, tapping almost $24 million. Despite the significant rise, the figure stands far from the all-time high of over $80 million registered in April 2021.  Bitcoin’s rally during the first month of the year...
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Bitcoin Volatility Falls to Record Low as Hash Rate Tanks

On-chain analysis indicates that Bitcoin market volatility is at its lowest ever period. Crypto analysts have been monitoring historical BTC volatility levels, and they have bottomed out. The last time volatility tanked to near current levels was in late 2018. This was a similar bear market to current conditions, with crypto prices falling for the...
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Hash Ribbon Reversal Confirms Bitcoin Miner Capitulation Phase

Hash ribbons have just formed a death cross which has been a leading indicator for Bitcoin miner capitulation in previous cycles. Hash Ribbon indicators use simple daily moving averages to identify changes in hash rate trends. They are often used as a long-term signal to indicate macro bottoms on the Bitcoin price chart. A bearish...
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Bitcoin Hash Price at All-Time Lows Amidst Dismal Miner Profitability

While BTC has come down from a massive bear market dump to $19,000, its network hash rate has exploded to an all-time high. Bitcoin miners are currently earning the smallest reward relative to hash power applied in history, which has put the industry under extreme income stress. As revealed by the blockchain intelligence platform, Glassnode,...
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Bitcoin Mining Difficulty Sees First Decrease in 2 Months

On-chain data shows that Bitcoin’s mining difficulty was lowered to 31.36 trillion hashes at a block height of 756,000. Despite this, the Bitcoin ecosystem is still guarded by the most secure blockchain network. According to data from BTC.com, the Bitcoin mining difficulty adjustment decreased by approximately 2.3% on September 28th. The latest decline comes two weeks...
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Bitcoin Mining Difficulty Taps New All-Time High After 4 Consecutive Increases

Bitcoin network fundamentals have remained unfazed by its spot price failing to show any crucial breakouts. According to data from BTC.com, its mining difficulty has tapped a new high of 32.05 trillion hashes at a block height of 753,984 after an increase of 3.45%. Bitcoin’s New Difficulty Adjustment This is the fourth such increase since...
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Bitcoin Miners’ Balance Hits 4-Year High: Glassnode

Bitcoin miners’ balance has reached a four-year high. According to Glassnode’s latest data, the figures have surpassed 1,845,303 BTC. Bitcoin Miners Hodling Again From the great Chinese migration in 2021 to the ongoing bear market, the miners of the BTC network went through many challenges, including a shift in profitability. However, it appears that they...
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Bitcoin’s Annual Energy Use Has Already Passed 2020’s: Research

While worries about Bitcoin’s energy use abound, new analysis shows that the network has already consumed more power than it did during the entirety of last year. Bitcoin’s Rising Power Consumption As reported by Bloomberg, “the network reportedly consumed about 67TWh of electricity in 2020, and its total consumption has already surpassed this in 2021”....
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Slowest Block Production in BTC’s History as Miners’ Revenue Plummets 80% in a Month

The lower number of miners on the Bitcoin network has caused severe disruptions as the rate of newly-produced coins have dropped to just 58 new ones created in a day, says on-chain data. Furthermore, miners’ revenue has plummeted in the last month, while all eyes are on the upcoming difficulty adjustment. The Disruptions on the...
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Bitcoin’s Hash Rate Drops 40% to 1-Year Low in Preparation for the Largest Difficulty Adjustment

The effects of the Chinese crackdown on Bitcoin mining continue to harm the network as the hash rate has dumped to its yearly low of below 90 Ehash/sec. This comes just days before the next difficulty adjustment, which is expected to be one of the largest in BTC’s history. Bitcoin Hash Rate Drops to Yearly...
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The China Effect: Bitcoin’s Hashrate to an 8-Month Low as the Issuance of New BTC Slows Down

The consequences of the nationwide Chinese crackdown on Bitcoin mining are more than evident in a few short weeks. The hashrate has dropped dramatically by nearly 50% from its peak, the number of daily issued coins has declined, and the Puell Multiple has reached a multi-month low. The Effects of the Chinese Crackdown Although Bitcoin...
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Bitmain Sells 42,000 S19 Antiminers to Riot Blockchain

Bitcoin mining company Riot Blockchain has decided to expand its mining capacity by purchasing 42,000 S19 Antimners from Bitmain, a Hong Kong crypto-mining products manufacturer. The purchase was worth at least $138.5 million and it’s part of the company’s plans to increase its Bitcoin mining hashrate, aiming at 7.7 EH/s by mid-2021 (an increase in...
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Here’s why Bitcoin miners are unlikely to sell-off their holdings

Whether Bitcoin is heading up or crashing face-first in the market, the community is always curious about its short-term future. This was the case as after having dropped down to approx. $32,000 on the price charts, Bitcoin managed to recover a position near $36,000, at press time. While turbulence is the word of the day...
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Bitcoin Miners’ Exchange Flow Surges By 270%: Possible Price Dip Incoming?

Data from the on-chain analytics resource Glassnode indicates that Bitcoin miners have sent sizeable BTC portions to exchanges in the past 24 hours. With the asset price hovering above $15,500, the question remains if they are to cash out profits and possibly drive Bitcoin south. Miners Send BTC To Exchanges Implies A Price Dip? Bitcoin...
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Here’s Why Bitcoin’s Hashrate May Drop Further This Week

Yesterday, the Bitcoin network witnessed approximately 22 exahashes per second (EH/s) exit the ecosystem, as noted by Hashr8’s Thomas Heller on Twitter. The self-professed “mining maximalist” also shared his estimation that we’ll see the BTC mining difficulty decline somewhere between 7.4% to 8.8% by the end of the week — a drop that, if true,...
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Max Keiser: Bitcoin Will Destroy All Other Cryptocurrencies

Popular TV host Max Keiser recently highlighted that Bitcoin’s continuously growing hash rate is significantly more important for humanity than its price. He believes that the expanding energy demand for sustaining the network would ultimately result in the demise of altcoins and fiat currencies. Rising Energy Consumption For BTC Is A Good Thing: Keiser Following...
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