🚀 Witness the Power: An Astonishing 520,000,000,000,000,000,000 Hashes Per Second! 🔍🔗
The #Bitcoin network just hit an all-time high, showcasing an incredible 520 quintillion hashes per second! 💪⛓️ Brace yourselves for the next era of crypto dominance!
🌐 Dive into the Future: Unprecedented Strength in Blockchain Security and Efficiency. 🚀

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$BTC

Bitcoin miners are finally getting a breather after a slow September, with the hash rate up 10.33% over the past 30 days. There has been a solid 8.93% gain in the past four days alone.
Hashprice Up Nearly 9% in 4 Days: Bitcoin Miners Have Opportunity as September Ends
On August 29, 2024, mining revenue was lagging, with the hash rate at $42.98 per petahash per second per day. Fast forward to today, and the hash rate is 10.33% higher. To put that in perspective, the hash rate refers to the estimated daily revenue from 1 PH/second of Bitcoin hashing power. Miners have had a couple of boosts recently—BTC prices rose and difficulty dropped 4.6% on September 25.

You’ve probably come across the term “hashrate,” which is quite common in the cryptocurrency world, especially when talking about Bitcoin. Understanding what hashrate is and how it works can help you understand certain dynamics of the Bitcoin market, including factors like network security and potential influences on the coin’s price.
In fact, it is worth noting that recently, Bitcoin's hashrate reached historic levels, which raises an important question: how does this affect the value of Bitcoin?

US mining giant Riot has acquired Kentucky-based Block Mining in a deal valued at $92.5 million.

July24, Riot Platforms said the acquisition was valued at $18.5 million in cash and $74 million in Riot common stock from the company's balance sheet.
Block #Mining said it could receive up to $32.5 million in additional consideration depending on its performance through 2025.
Block Mining said the deal will immediately increase hash rates and provide access to additional energy markets outside of the Texas Electric Reliability Council.
Block Mining consists of two power plants in Kentucky with a current capacity of 60 megawatts. According to Riot, the company plans to increase capacity to 110 megawatts by the end of 2024.
Block Mining also owns a site in Kentucky adjacent to an existing substation where it can build 60 megawatts and eventually expand to 150 megawatts.
Riot CEO Jason Less said the acquisition will allow the company to diversify nationally and expand into Kentucky.
he added that it will also enable the company to expand its Kentucky operations to more than 300 MW and accelerate progress toward its goal of growing to 100 exahash per second (EH/s).
This partnership provides Riot with a unique, cost-effective opportunity to expand its Kentucky operations into new energy markets, said Michael Stolzner, CEO and co-founder of the #blockchain company.
In June, Riot Platforms' #hashrate skyrocketed, increasing by 50 percent over the month, mining 255 #BTC .
The company completed the installation of equipment at its Corsicana, Texas, facility and utilized additional capacity at its Rockdale, Texas, facility, which contributed to the hashrate increase.
Riot is also actively pursuing the acquisition of rival mining company Bitfarms, having offered to buy it for $950 million in mid-June.

Riot Platforms, through its U. S.
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As bitcoin fell below $55,000 this week, something interesting happened behind the scenes. On September 7, 2024, the network's computing power hit a new lifetime high. The seven-day simple moving average (SMA) for Bitcoin's total hashrate rose to 679 exahashes per second (EH/s) on Saturday, up slightly by 2 EH/s from the previous record set on July 25.

According to the latest network data, bitcoin's computing power reached an all-time high on October 10, 2024, reaching 698 exahashes per second (EH/s). This new record surpasses the previous high of 693 EH/s, set on September 8.
Bitcoin Hashrate Spikes to 698 EH/s as Miners Surge Ahead of Difficulty Adjustment
Following a price drop, a hashprice drop, and a 4.09% increase in network difficulty, bitcoin miners have successfully raised the network's total hashrate to an unprecedented level. As of 1 p.m. ET on Thursday, the seven-day simple moving average (SMA) on hashrateindex.com reported a rate of 698.94 EH/s. This achievement comes after the hashrate dropped to 625 EH/s on the last day of September.

A key feature of the Bitcoin blockchain is that the block time on the network (i.e. the rate at which miners resolve blocks) remains relatively constant at the standard 10 minutes per block.

This feature exists because miners are rewarded for resolving blocks, which is the only way to mine new cryptocurrency tokens. Because these blocks are issued at a constant rate, the growth of the asset remains stable and its inflation is predictable.
As a result, no matter how many hashrates miners add to the network, the block mining rate will not increase in the long run.
The extra processing power allows rewards to be earned faster initially, but only until the next bi-weekly difficulty adjustment, when the #chain makes it so difficult for miners that it negates the benefit of the extra power.
Since rewards thus remain limited, an increase in #hashrate means a smaller distribution of rewards among individual units of competence.
Therefore, for every hashrate increase in the network, individual miners must increase their competence by the same percentage to remain competitive in the chain.
In other words, the hashcoins discussed earlier grow as the hashrate increases. Since hashrate is close to ATH these days, hashcoins are also relatively high.
The chart shows that bitcoin's hashrate has increased dramatically recently and has updated ATH. However, the hashrate remains unchanged, so where did this sharp rise come from?
The answer lies in the fourth halving, which occurred on April 19. While Complexity provides a constant rate of inflation for assets, Harbing is a measure that actively reduces that rate.
Approximately every four years, the block reward is halved in this particular event.
After the block reward was halved, miners can now mine half as much as they used to, and the hashcoin rate skyrocketed. Currently, it takes 1.13 EH/s for miners to mine one token per day.
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In the realm of cryptocurrencies, the concept of hash rate plays a pivotal role as a crucial metric for assessing the efficiency and security of blockchain operations. Essentially, hash rate denotes the speed at which a computer can execute hashing computations while validating transactions, commonly associated with cryptocurrency mining.
These computations entail a sequence of attempts to discover a valid solution to a complex mathematical problem, conducted using specialized crypto-mining machines that process data through algorithms known as hash functions.
Understanding Hash Rate and Crypto Mining
In the realm of Bitcoin and other cryptocurrencies, the hash rate functions as a crucial performance indicator for specialized mining machines. It signifies the speed at which mining hardware processes data in its pursuit of computing a valid block hash. Cryptocurrency miners strive to generate a hash that meets specific criteria, typically starting with a designated number of zeros.
Consequently, a miner's or mining pool's profitability is intimately tied to the hash rate. A higher hash rate increases the likelihood of successfully mining a block, thereby enhancing the miner's prospects of receiving the coveted block reward. This correlation underscores the pivotal role hash rate plays in the economics of cryptocurrency mining.
In the context of Bitcoin mining, each time a miner successfully validates a new block of transactions, they receive a certain amount of BTC as a reward, in addition to transaction fees paid by users. The current block reward for Bitcoin miners stands at 6.25 BTC. However, with the upcoming Bitcoin halving in 2024 (https://t.me/CryptoVIPSignalTA/18659), the block reward will be reduced to 3.125 BTC.
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Marathon Digital, a prominent U.S. bitcoin (BTC) mining company, has reported strong revenue growth and significant improvement in 2023.

Marathon Digital reported fourth-quarter and full-year results on April 2, reporting record revenue of $387.5 million in 2023, up 229% year-over-year.
Marathon CEO Fred Thiel stated that "2023 was a record year for Marathon, during which we achieved our key goals of increasing the number of rigs acquired in the past and optimizing our operations.
Fourth-quarter revenue rose 452% to $156.8 million, exceeding analysts' expectations and up significantly from $28.4 million in Q4 2022.
Analysts had expected quarterly revenue of US$148.8 million.
According to the company's report, the sharp increase in revenue was mainly due to a 172% year-on-year increase in #bitcoin #mining volume and a nearly doubling of the average #BTC price over the period.
Those who sold Marathon Digital after the earnings report will likely regret it.
To understand why the company's shares have grown so much in value, let's do some elementary math.
The company already has 15,000 BTC on its balance sheet and zero net debt.
To cover operating expenses, Marathon Digital sold 56% of the bitcoins mined during the quarter.
Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) also showed improvement, with a loss of $260 million in Q4 2023 compared to a loss of $374 million in Q4 2022.
Marathon's bitcoin mining grew significantly, reaching a record 12,852 BTC in 2023, a 210% increase.
The company's #hashrate also grew by 253%, reaching 24.7 EH/s (exash/s) in 2023, up from 7.0 EH/s in the previous year.
We enter 2024 with a strong balance sheet.
Despite the excellent earnings report, Marathon Digital's share price fell 6.7% to $28.95 in after-hours trading on February 29.
However, the stock price has risen more than 300% over the past 12 months.

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