btc mining

Here’s what Bitcoin’s recent hashrate drop may imply for miners

Bitcoin has seen its hash rate decline over 43.47 % within a span of 3 days, due to Chinese mining farms closing down for the dry season. The reason being, they cannot generate enough hydropower without the rain along with a spike in electricity costs. Bitcoin hashrate has dropped by ~45% over past 3 days,...
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Bitcoin mining rig manufacturer Canaan posted net loss, CEO cites Covid-19 and BTC halving 

Canaan Inc, a leading Chinese Bitcoin mining hardware manufacturer published its unaudited second quarter (2020) financial results. As per the report, the company’s gross profit increased year over year and quarter over quarter, but Canaan still suffered a net loss.  However, the firm’s gross margin expanded significantly last year as well as in the first...
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BTC’s Hashrate Touches 120 Exahash, But the Price Has Not Followed

On January 1, the BTC network hashrate touched an all-time high at close to 120 exahash per second (EH/s). Despite the crypto market lull and lower BTC prices, the 2020 milestone happened just before the blockchain’s 11th anniversary. BTC’s curious jump in hashrate has the cryptosphere wondering whether or not the price truly follows hashpower....
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Mining Report Shows 65% of Bitcoin’s Hashpower Stems From China

As the end of 2019 approaches, Coinshares Research has published its bi-annual mining report that contains informative research and observations about the bitcoin mining industry. Since Coinshare’s last report published in June, BTC’s hashrate grew by 50 exahash per second (EH/s) and the firm believes a decent portion of the power stems from China. Also...
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