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JUST IN: ETHIOPIAN ELECTRIC POWER EARNS 18% OF REVENUE FROM BITCOIN MINING USING EXCESS ENERGY.
🚨🇪🇹 JUST IN: Ethiopian Electric Power Earns 18% of Revenue from Bitcoin Mining Using Excess Energy from Grand Ethiopian Renaissance Dam ⚡💰 $BTC
In a groundbreaking move, Ethiopian Electric Power (EEP) has revealed that it now earns 18% of its revenue from Bitcoin mining, utilizing excess electricity generated by the Grand Ethiopian Renaissance Dam (GERD). This innovative use of renewable energy for crypto mining marks a significant step in the country's push to harness its vast hydroelectric power for economic growth.
Key Highlights:
Harnessing Hydroelectric Power: The Grand Ethiopian Renaissance Dam, one of Africa’s largest hydroelectric projects, produces a significant amount of excess electricity. By directing this surplus energy into Bitcoin mining, Ethiopia is maximizing the utility of its renewable energy resources.Bitcoin Mining as a Revenue Stream: EEP’s Bitcoin mining initiative has become a key revenue generator, contributing to 18% of its total income. This is a substantial boost for Ethiopia’s economy, especially as it aims to diversify its income sources beyond traditional industries.Sustainable Mining: Using hydroelectric power to mine Bitcoin is a more environmentally sustainable alternative compared to the energy-intensive practices seen in other countries. This approach positions Ethiopia as a potential leader in green crypto mining in Africa.Potential for Future Growth: This move could serve as a model for other African nations with untapped renewable energy potential. With global interest in Bitcoin mining, Ethiopia’s use of clean energy could attract further investment into the country’s crypto and tech sectors.
What’s Next?
Ethiopia’s success in leveraging its renewable energy for Bitcoin mining could lead to a broader adoption of similar models in other countries, particularly in Africa, where there is significant untapped energy capacity. As global interest in Bitcoin continues to rise, the country’s efforts may help position it as a key player in the global crypto economy.
Stay tuned for more updates on this exciting development! 🌍⚡#Ethiopia #btcmining #BitwiseBitcoinETF
In a groundbreaking move, Ethiopian Electric Power (EEP) has revealed that it now earns 18% of its revenue from Bitcoin mining, utilizing excess electricity generated by the Grand Ethiopian Renaissance Dam (GERD). This innovative use of renewable energy for crypto mining marks a significant step in the country's push to harness its vast hydroelectric power for economic growth.
Key Highlights:
Harnessing Hydroelectric Power: The Grand Ethiopian Renaissance Dam, one of Africa’s largest hydroelectric projects, produces a significant amount of excess electricity. By directing this surplus energy into Bitcoin mining, Ethiopia is maximizing the utility of its renewable energy resources.Bitcoin Mining as a Revenue Stream: EEP’s Bitcoin mining initiative has become a key revenue generator, contributing to 18% of its total income. This is a substantial boost for Ethiopia’s economy, especially as it aims to diversify its income sources beyond traditional industries.Sustainable Mining: Using hydroelectric power to mine Bitcoin is a more environmentally sustainable alternative compared to the energy-intensive practices seen in other countries. This approach positions Ethiopia as a potential leader in green crypto mining in Africa.Potential for Future Growth: This move could serve as a model for other African nations with untapped renewable energy potential. With global interest in Bitcoin mining, Ethiopia’s use of clean energy could attract further investment into the country’s crypto and tech sectors.
What’s Next?
Ethiopia’s success in leveraging its renewable energy for Bitcoin mining could lead to a broader adoption of similar models in other countries, particularly in Africa, where there is significant untapped energy capacity. As global interest in Bitcoin continues to rise, the country’s efforts may help position it as a key player in the global crypto economy.
Stay tuned for more updates on this exciting development! 🌍⚡#Ethiopia #btcmining #BitwiseBitcoinETF
The recent $BTC price surge has lifted the stocks of public-listed crypto mining firms, which had taken a hit after the Bitcoin halving event in April. Over the past few months, these stocks have strongly recovered, aligning with the BTC price recovery.
According to on-chain data provider ecoinometrics, Bitcoin mining stocks have been closing the gap with $BTC . Despite underperforming after the launch of spot Bitcoin ETFs in January, the mining industry has been consolidating operations and exploring lucrative areas like cloud computing and AI.
Northern Data, a leading $BTC mining player, is betting on these shifts to boost revenue by year-end. Ecoinometrics predicts that BTC mining stocks could outperform Bitcoin, similar to the previous cycle where miners acted as a leveraged bet on $BTC .
Top public-listed Bitcoin mining companies in the US have shown impressive gains:
- Marathon Digital (NASDAQ: MARA) stock surged 32% in a month, outpacing BTC's 5.26% gain.
- Riot Platform (NASDAQ: RIOT) saw a 30% stock price increase.
- Cipher Mining (NASDAQ: CIFR) stock gained a staggering 44%.
This trend is expected to continue, making $BTC mining stocks an attractive opportunity for investors.#btcmining
#BTC500K
#EtheriumETF #BNBAnalysis #sol
According to on-chain data provider ecoinometrics, Bitcoin mining stocks have been closing the gap with $BTC . Despite underperforming after the launch of spot Bitcoin ETFs in January, the mining industry has been consolidating operations and exploring lucrative areas like cloud computing and AI.
Northern Data, a leading $BTC mining player, is betting on these shifts to boost revenue by year-end. Ecoinometrics predicts that BTC mining stocks could outperform Bitcoin, similar to the previous cycle where miners acted as a leveraged bet on $BTC .
Top public-listed Bitcoin mining companies in the US have shown impressive gains:
- Marathon Digital (NASDAQ: MARA) stock surged 32% in a month, outpacing BTC's 5.26% gain.
- Riot Platform (NASDAQ: RIOT) saw a 30% stock price increase.
- Cipher Mining (NASDAQ: CIFR) stock gained a staggering 44%.
This trend is expected to continue, making $BTC mining stocks an attractive opportunity for investors.#btcmining
#BTC500K
#EtheriumETF #BNBAnalysis #sol
#BTC☀ #Miners #btcmining
🎮 New P2E game on the theme of mining
The developers of Fumb Games presented a new Play-to-Earn game Bitcoin Miner. Everyone can feel like a real miner and mine popular cryptocurrencies: BTC, ETH, DOGE and SOL.
➡️ Note that in reality mining is applicable only to Bitcoin and Dogecoin, as Ethereum and Solana use the Proof-of-Stake consensus algorithm.
But the main feature of the game was the payouts in real satoshis, which you can withdraw to your crypto wallet.
Bitcoin Miner is available on both iOS and Android.
@ATLANTIS-Depth of crypto world
🎮 New P2E game on the theme of mining
The developers of Fumb Games presented a new Play-to-Earn game Bitcoin Miner. Everyone can feel like a real miner and mine popular cryptocurrencies: BTC, ETH, DOGE and SOL.
➡️ Note that in reality mining is applicable only to Bitcoin and Dogecoin, as Ethereum and Solana use the Proof-of-Stake consensus algorithm.
But the main feature of the game was the payouts in real satoshis, which you can withdraw to your crypto wallet.
Bitcoin Miner is available on both iOS and Android.
@ATLANTIS-Depth of crypto world
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$BTC #btcmining 10000 #Bitcoin❗ 670,000,000 dollars mined by miners were sold for 70,000,000 dollars. This created selling pressure in the crypto market and caused a decrease of 3 thousand dollars. BTC price will come out of turbulence this week and test the 67,500 level. This is not an investment recommendation.
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Currently, the revenues of Bitcoin miners exceed 35 million $ per day
Mining pool revenues have reached record levels since June 2024, exceeding 35 million $ per day, which is 5 million more than in mid-October.
Since the beginning of the month, total miner revenues amounted to 811.34 million$, of which 771.76 million came from block rewards. This data was provided by The Block.
According to information provided by Blockchain.com, Bitcoin's hash rate remains at a level exceeding 700 exahashes per second (Eh/s). Last week, a historical maximum was recorded — 723,631 Eh/s, after which the figure dropped to 720 Eh/s by the end of the week.
AntPool became the leader among mining pools, with Foundry and ViaBTC also in the top 3.
#btcmining
Mining pool revenues have reached record levels since June 2024, exceeding 35 million $ per day, which is 5 million more than in mid-October.
Since the beginning of the month, total miner revenues amounted to 811.34 million$, of which 771.76 million came from block rewards. This data was provided by The Block.
According to information provided by Blockchain.com, Bitcoin's hash rate remains at a level exceeding 700 exahashes per second (Eh/s). Last week, a historical maximum was recorded — 723,631 Eh/s, after which the figure dropped to 720 Eh/s by the end of the week.
AntPool became the leader among mining pools, with Foundry and ViaBTC also in the top 3.
#btcmining
Bitcoin Mining:
Bitcoin mining is the process by which new bitcoins are created and transactions are verified and added to the blockchain ledger. It involves using powerful computers to solve complex mathematical puzzles that validate and secure transactions on the network. Miners compete to solve these puzzles, with the first one to find the solution being rewarded with newly minted bitcoins and transaction fees. This process requires significant computational power and energy consumption. The puzzles are designed to become increasingly difficult as more miners join the network, ensuring a steady and controlled release of new bitcoins. Mining plays a crucial role in maintaining the security and integrity of the Bitcoin network by preventing double-spending and ensuring consensus among participants. As the Bitcoin network grows, mining becomes more competitive, requiring specialized hardware and low-cost electricity to remain profitable. Additionally, mining operations are often concentrated in regions with cheap electricity to maximize profitability. Despite its energy-intensive nature, Bitcoin mining serves as the backbone of the decentralized cryptocurrency system, enabling peer-to-peer transactions without the need for a central authority.
#btcmining #BitcoinMining #BlackRock #Bitcoin❗ #Bitcoin❗
Bitcoin mining is the process by which new bitcoins are created and transactions are verified and added to the blockchain ledger. It involves using powerful computers to solve complex mathematical puzzles that validate and secure transactions on the network. Miners compete to solve these puzzles, with the first one to find the solution being rewarded with newly minted bitcoins and transaction fees. This process requires significant computational power and energy consumption. The puzzles are designed to become increasingly difficult as more miners join the network, ensuring a steady and controlled release of new bitcoins. Mining plays a crucial role in maintaining the security and integrity of the Bitcoin network by preventing double-spending and ensuring consensus among participants. As the Bitcoin network grows, mining becomes more competitive, requiring specialized hardware and low-cost electricity to remain profitable. Additionally, mining operations are often concentrated in regions with cheap electricity to maximize profitability. Despite its energy-intensive nature, Bitcoin mining serves as the backbone of the decentralized cryptocurrency system, enabling peer-to-peer transactions without the need for a central authority.
#btcmining #BitcoinMining #BlackRock #Bitcoin❗ #Bitcoin❗
BTC mining
Ladies and gentlemen, fellow miners and future investors,
Today, we stand at the forefront of a revolution—a revolution powered by innovation, technology, and the promise of financial freedom. Bitcoin mining is more than just a pursuit; it's a pathway to reclaiming our dreams and aspirations. For those of you who have faced losses, setbacks, or uncertainty in the world of cryptocurrency, I want you to know this: recovery is not only possible; it is within your grasp.
In the ever-evolving landscape of digital currencies, the story of Bitcoin is a testament to resilience and opportunity. While many have experienced the rollercoaster of market fluctuations, there is a beacon of hope shining brightly through the clouds of doubt. Bitcoin mining is not just about mining coins; it’s about mining possibilities. It’s about taking charge of your financial destiny and building a future where you can thrive.
Now, let’s talk about the Antminer S21 XP Hyd—an incredible tool designed for those who are serious about their mining journey. This machine represents cutting-edge technology and efficiency, delivering unprecedented hash rates while minimizing energy consumption. With the Antminer S21 XP Hyd, you are not just investing in a piece of hardware; you are investing in your future.
Imagine waking up every day knowing that your investment is working tirelessly for you, generating consistent profits and allowing you to reclaim the financial stability you may have lost. The Antminer S21 XP Hyd is engineered for success, designed to adapt to the ever-changing dynamics of the Bitcoin network. It gives you the competitive edge needed to thrive in a market where timing and efficiency are everything.
But remember, mining Bitcoin is not just about the hardware. It’s about the mindset. It’s about embracing the challenges and seizing the opportunities that come your way. Many have tried and failed, but those who persist, who stay informed, and who invest wisely will reap the rewards. You have the chance to be part of a community that is not only passionate about technology but also committed to transforming lives.
So, for those who have experienced loss, let this be your rallying cry. Take that first step towards recovery. Invest in the Antminer S21 XP Hyd, and watch as your commitment turns into consistent profits. For those of you looking for stability and growth, let your journey begin here, today.
Together, we can create a future where financial freedom is not just a dream, but a reality. Let’s embrace the power of Bitcoin mining, harness the potential of the Antminer S21 XP Hyd, and pave the way to a brighter tomorrow.
Thank you, and let’s mine our way to success!
Feel free to modify
And comment and dm for price
#btcmining #time
Today, we stand at the forefront of a revolution—a revolution powered by innovation, technology, and the promise of financial freedom. Bitcoin mining is more than just a pursuit; it's a pathway to reclaiming our dreams and aspirations. For those of you who have faced losses, setbacks, or uncertainty in the world of cryptocurrency, I want you to know this: recovery is not only possible; it is within your grasp.
In the ever-evolving landscape of digital currencies, the story of Bitcoin is a testament to resilience and opportunity. While many have experienced the rollercoaster of market fluctuations, there is a beacon of hope shining brightly through the clouds of doubt. Bitcoin mining is not just about mining coins; it’s about mining possibilities. It’s about taking charge of your financial destiny and building a future where you can thrive.
Now, let’s talk about the Antminer S21 XP Hyd—an incredible tool designed for those who are serious about their mining journey. This machine represents cutting-edge technology and efficiency, delivering unprecedented hash rates while minimizing energy consumption. With the Antminer S21 XP Hyd, you are not just investing in a piece of hardware; you are investing in your future.
Imagine waking up every day knowing that your investment is working tirelessly for you, generating consistent profits and allowing you to reclaim the financial stability you may have lost. The Antminer S21 XP Hyd is engineered for success, designed to adapt to the ever-changing dynamics of the Bitcoin network. It gives you the competitive edge needed to thrive in a market where timing and efficiency are everything.
But remember, mining Bitcoin is not just about the hardware. It’s about the mindset. It’s about embracing the challenges and seizing the opportunities that come your way. Many have tried and failed, but those who persist, who stay informed, and who invest wisely will reap the rewards. You have the chance to be part of a community that is not only passionate about technology but also committed to transforming lives.
So, for those who have experienced loss, let this be your rallying cry. Take that first step towards recovery. Invest in the Antminer S21 XP Hyd, and watch as your commitment turns into consistent profits. For those of you looking for stability and growth, let your journey begin here, today.
Together, we can create a future where financial freedom is not just a dream, but a reality. Let’s embrace the power of Bitcoin mining, harness the potential of the Antminer S21 XP Hyd, and pave the way to a brighter tomorrow.
Thank you, and let’s mine our way to success!
Feel free to modify
And comment and dm for price
#btcmining #time
🇺🇸US Senator Ted Cruz reveals he is mining $BTC 😳
#BTC☀ #btc70k #ETHETFsApproved #btcmining #altcoins
#BTC☀ #btc70k #ETHETFsApproved #btcmining #altcoins
Cryptoverse: Bitcoin miners make money ahead of 'halving'
Bitcoin miners are making hay while the sun shines.
The business has been yanked out of the doldrums by the cryptocurrency's recent rally - and now mining companies are racing to lock in profits before bitcoin's "halving", when rewards for producing the tokens are cut in half.
The next halving is expected in April 2024, a process designed to slow the release of bitcoin, whose supply is capped at 21 million - of which 19 million have already been mined.
"You're seeing a lot of urgency to plug rigs in ahead of the halving," said Gregory Lewis, analyst at brokerage BTIG that covers the 13 biggest U.S.-listed bitcoin miners.
Bitcoin's hashrate - a measure of the computational power needed to mine a coin - has spiked to an all-time high, according to crypto platform Blockchain.com. That means miners are having to use more and more power and speed to crack the complex maths puzzles that earn them a bitcoin.
Bitcoin has risen about 37% in the past month to around $37,000 after months of listlessness, a rebound that's encouraged miners to hook up their powerful computers to crack the puzzles and sell newly minted coins.
The 30-day average of revenue earned by miners has improved steadily this year to hit a 18-month at $32.46 million on Nov. 11, blockchain.com data shows.
However, mining - a highly energy-intensive process - is still not as profitable as in its 2021 heyday.
A measure of miners' earnings from using 1 petahash per second of computing power in a day has risen to over $81 from $70 at the start of November but remains well below a peak of $127 in early May, according to mining data platform Hashrate Index.
#BitcoinMining #mining #btcmining
$BTC $ETH $SOL
Bitcoin miners are making hay while the sun shines.
The business has been yanked out of the doldrums by the cryptocurrency's recent rally - and now mining companies are racing to lock in profits before bitcoin's "halving", when rewards for producing the tokens are cut in half.
The next halving is expected in April 2024, a process designed to slow the release of bitcoin, whose supply is capped at 21 million - of which 19 million have already been mined.
"You're seeing a lot of urgency to plug rigs in ahead of the halving," said Gregory Lewis, analyst at brokerage BTIG that covers the 13 biggest U.S.-listed bitcoin miners.
Bitcoin's hashrate - a measure of the computational power needed to mine a coin - has spiked to an all-time high, according to crypto platform Blockchain.com. That means miners are having to use more and more power and speed to crack the complex maths puzzles that earn them a bitcoin.
Bitcoin has risen about 37% in the past month to around $37,000 after months of listlessness, a rebound that's encouraged miners to hook up their powerful computers to crack the puzzles and sell newly minted coins.
The 30-day average of revenue earned by miners has improved steadily this year to hit a 18-month at $32.46 million on Nov. 11, blockchain.com data shows.
However, mining - a highly energy-intensive process - is still not as profitable as in its 2021 heyday.
A measure of miners' earnings from using 1 petahash per second of computing power in a day has risen to over $81 from $70 at the start of November but remains well below a peak of $127 in early May, according to mining data platform Hashrate Index.
#BitcoinMining #mining #btcmining
$BTC $ETH $SOL
Paraguay lawmakers proposed a temporary ban on Bitcoin mining on April 4, lasting for 180 days or until new regulations are established, as the country's low-cost hydroelectric power plants have attracted interest from miners.
#Write2Earrn #BitcoinMining #btcmining $BTC
#Write2Earrn #BitcoinMining #btcmining $BTC
👷🏻♀️ #Bitcoin miner sell pressure is easing as $BTC withdrawals from miner-affiliated wallets have dropped 85% since the April halving.
The number of withdrawals fell from over 50,000 to under 10,000 per day.
#BitcoinMining #Mining #btcmining #TrendingTopic
The number of withdrawals fell from over 50,000 to under 10,000 per day.
#BitcoinMining #Mining #btcmining #TrendingTopic
Why The U.S. Should Focus On Bitcoin Mining Policy
Benefits of focusing on bitcoin mining dominance impact multiple areas of the U.S. economy
$BTC #SOL #btcmining
Benefits of focusing on bitcoin mining dominance impact multiple areas of the U.S. economy
$BTC #SOL #btcmining
🇩🇪 Germany completed its Bitcoin sell-off, liquidating $2.9B. Meanwhile, 🇧🇹 Bhutan embraces crypto, mining Bitcoin with its abundant hydropower. A tale of two nations' crypto strategies! #BitcoinMining #BhutanCrypto #Write2Earn $BTC #btcmining
Have a terrific Thursday
Beyond Bitcoin 💰
The bitcoin mining firm Marathon Digital is now expanding its mining efforts to the Layer-1 blockchain Kaspa to diversify its mining revenue.
The firm announced its involvement in mining Kaspa earlier today, stating that it first started mining the cryptocurrency in September 2023.
According to the announcement, Marathon has purchased 60 petahashes worth of hardware, capable of generating profit margins of up to 95%, where half of the machines are currently operational.
Once all of their machines are up and running, the firm predicts that their mining operations will represent 16% of Kaspa’s overall hash rate.
Over the past 10 months, Marathon has mined approximately 93M KAS, which is valued at around $15M.
Since the announcement, the price of KAS has risen by 4.6% from $0.168 to $0.176 today.
#BTC☀ #btcmining #MarathonDigitalHoldings #Squar2earn #squarecreator
Beyond Bitcoin 💰
The bitcoin mining firm Marathon Digital is now expanding its mining efforts to the Layer-1 blockchain Kaspa to diversify its mining revenue.
The firm announced its involvement in mining Kaspa earlier today, stating that it first started mining the cryptocurrency in September 2023.
According to the announcement, Marathon has purchased 60 petahashes worth of hardware, capable of generating profit margins of up to 95%, where half of the machines are currently operational.
Once all of their machines are up and running, the firm predicts that their mining operations will represent 16% of Kaspa’s overall hash rate.
Over the past 10 months, Marathon has mined approximately 93M KAS, which is valued at around $15M.
Since the announcement, the price of KAS has risen by 4.6% from $0.168 to $0.176 today.
#BTC☀ #btcmining #MarathonDigitalHoldings #Squar2earn #squarecreator
Does anyone know when's the new batch for BTC cloud mining ??
#BTC☀ #CloudMiningPresale #Cloudmining #btcmining
#BTC☀ #CloudMiningPresale #Cloudmining #btcmining
#btcmining
Bitcoin mining is the process of validating and adding transactions to the Bitcoin blockchain while creating new bitcoins. It involves solving complex mathematical problems using specialized hardware, primarily ASICs (Application-Specific Integrated Circuits). Miners compete to solve these puzzles, and the first to succeed adds a new block to the blockchain, receiving a reward of newly minted bitcoins and transaction fees.
Bitcoin mining is the process of validating and adding transactions to the Bitcoin blockchain while creating new bitcoins. It involves solving complex mathematical problems using specialized hardware, primarily ASICs (Application-Specific Integrated Circuits). Miners compete to solve these puzzles, and the first to succeed adds a new block to the blockchain, receiving a reward of newly minted bitcoins and transaction fees.
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#Sharing mining on Binance turns out there is a double bonus.
Those who register using my ref, I'll tell you how to mine BTC + get ELA coins
REGISTER
https://accounts.binance.info/id/register?ref=CVA0L4FF
Ref code
CVA0L4FF
And there are still many benefits that can be obtained on Binance
-Launchpool can deposit FDUSD OR BNB, you'll get coins later
-USDT apr can be up to 30%, up and down, for example, saving 10,000 USDT a day can get $5 more
What I told you is above 0% risk so it's safe.
You can ++ anyway. Hopefully it will be useful, thank you 🙏🙏🙏
$BTC $ETH $BNB
#Write2Earn #mining #btcmining #nambangbtc #googledetec
Those who register using my ref, I'll tell you how to mine BTC + get ELA coins
REGISTER
https://accounts.binance.info/id/register?ref=CVA0L4FF
Ref code
CVA0L4FF
And there are still many benefits that can be obtained on Binance
-Launchpool can deposit FDUSD OR BNB, you'll get coins later
-USDT apr can be up to 30%, up and down, for example, saving 10,000 USDT a day can get $5 more
What I told you is above 0% risk so it's safe.
You can ++ anyway. Hopefully it will be useful, thank you 🙏🙏🙏
$BTC $ETH $BNB
#Write2Earn #mining #btcmining #nambangbtc #googledetec
#Bitcoin miner capitulation has reached levels comparable to December 2022: 7.6% drawdown.
December 2022 marked the cycle bottom after the #FTX colapse.
#btc #btcmining #BTC☀
December 2022 marked the cycle bottom after the #FTX colapse.
#btc #btcmining #BTC☀
Bitcoin mining rate hits all-time high amid record-breaking prediction for 2024
Buy bitcoin six months before a halving has historically been a good trading strategy,’ one analyst notes. ‘The next halving is April 2024
Bitcoin is trading at its highest level in more than 18 months, with its price up more than 100 per cent since the start of 2023.
The rally has pushed bitcoin’s market cap above $700 billion and the overall crypto market close to $1.5 trillion. The figure is still a long way from its all-time high of around $3 trillion, which was reached at the end of 2021, however some crypto analysts believe the recent gains are the beginning of another record-breaking run.
Bitcoin’s hash rate – which denotes how much computing power is required to verify transactions and generate new units of the cryptocurrency through a process called mining – hit a record high this week, according to data from Blockchain.com.
This signals a resilient network, with hopes of future price gains attracting an increasing number of miners. Recent reports have revealed significant investment in cryptocurrency mining from both state-backed and commercial ventures.
#BTC #BitcoinMiningRevenue #btcmining $BTC
Buy bitcoin six months before a halving has historically been a good trading strategy,’ one analyst notes. ‘The next halving is April 2024
Bitcoin is trading at its highest level in more than 18 months, with its price up more than 100 per cent since the start of 2023.
The rally has pushed bitcoin’s market cap above $700 billion and the overall crypto market close to $1.5 trillion. The figure is still a long way from its all-time high of around $3 trillion, which was reached at the end of 2021, however some crypto analysts believe the recent gains are the beginning of another record-breaking run.
Bitcoin’s hash rate – which denotes how much computing power is required to verify transactions and generate new units of the cryptocurrency through a process called mining – hit a record high this week, according to data from Blockchain.com.
This signals a resilient network, with hopes of future price gains attracting an increasing number of miners. Recent reports have revealed significant investment in cryptocurrency mining from both state-backed and commercial ventures.
#BTC #BitcoinMiningRevenue #btcmining $BTC