The #hashrate of fourteen mining companies with a listing in the #UnitedStates in October reached 28.9% of the total. Such data were cited in #JPMorgan , writes CoinDesk.

Since the beginning of the year, the firms tracked by the bank have increased the metric by ~70% year-over-year, from 114 EH/s to 194 EH/s, while total computing capacity has grown by ~33%.

Since halving, firms' share has increased by 8%, reflecting their “efficiency and financial strength”.

Hashrate is estimated to be up 4% since the beginning of October, while hashprices are up less than 1%.

The capitalization of tracked miners has increased by 7% over this period, exceeding their share of the block reward by 1.9 times (the minimum since May). This implies an “attractive entry point before the election,” according to analysts.

Recall, in JPMorgan allowed a slowdown in the growth of #bitcoin☀️ $BTC
hashrate.

Earlier in Matrixport pointed to the potential of shares of miners in view of the stabilization of the fall in their income and lagging behind the dynamics of the first cryptocurrency.
#UptoberBTC70K?

Hashrate, one of the cornerstones of blockchain technology, can be a confusing concept for many. However, this term is extremely important for the security and performance of blockchain networks. In this blog post, I will explain what hashrate is, how it is measured, and its role in the world of blockchain.What is Hashrate?Hashrate refers to the total hash processing power of a blockchain network. Hash operations are the mathematical calculations performed by cryptocurrency miners to add new blocks, and they are essential for adding new blocks and securing the network. Hashrate measures how quickly these calculations are performed and is often expressed in hashes per second (H/s, KH/s, MH/s, GH/s, TH/s, etc.).Why is Hashrate Important?Security: A higher hashrate makes the network more resilient against malicious attacks. For an attacker to take over the network, they would need to surpass the total hashrate of the network, which is a highly challenging task.Transaction Speed: A higher hashrate leads to faster confirmation of transactions, enabling users to conduct transactions more quickly and efficiently.Reward Distribution: Mining rewards are distributed based on a miner's hashrate. Miners with higher hashrates receive more rewards.How is Hashrate Measured?Hashrate is measured by calculating the total hash operations of the network. The combined hash processing power of miners constitutes the network's hashrate. This value is typically expressed in hashes per second and is measured in larger units.#hashrate #blockchain

#bitcoin #bitcoindifficulty #BTC #hashrate

Bitcoin miners are taking advantage of the recent surge in prices to add computing power to the network. Following a recent difficulty adjustment to mine Bitcoin, the hashrate hit an unprecedented milestone, reflecting an increase in network security and miners betting on a new cycle of profitability for their operations.

According to readings from Mempool.space, the new difficulty level adjustment reached a record high of 46.84 trillion, a 7.56% increase from the previous period. This increase corresponds to a progressive increase in computing power that began two weeks ago. The network has added more than 40 EH/s of hashrate since then, reaching 350 EH/s at its peak mining activity. However, just hours after yesterday's difficulty adjustment, this mark surpassed 400 EH/s in a matter of hours.

The main reason for this increase in miner participation is related to the rise in Bitcoin prices, which are averaging around $28,000. This encourages miners to connect more mining equipment to the network, which, in some cases, has been turned off waiting for better market conditions.

With the market's recovery, miners' profitability has also recovered, although it is still far from ideal. One of the main profitability indicators for miners, the hashprice, has increased by 20% in the last few days. The hashprice indicates how much profit mining equipment earns in a day in dollars per terahash.

However, it is estimated that with the increase in difficulty and the addition of more equipment to the network, competition for the Bitcoin mining reward will increase, causing the hashprice to decrease by a few points. Bitcoin mining is not the only area where miners have profited during this bull run, as several companies have reported gains in their stock prices over the last few months.

In conclusion, the Bitcoin network's hashrate hitting the 400 EH/s mark indicates increased security and miners' belief in the long-term profitability of their operations. The rising prices of Bitcoin have encouraged more miners to join the network, leading to a corresponding increase in the network's computing power. While the hashprice has also increased, competition for the Bitcoin mining reward may cause it to decrease in the future.

In the latest adjustment, the algorithm difficulty of Bitcoin mining has increased by 7.56%, setting a new record threshold.

This news was reported by Glassnode, a blockchain data analytics firm. The adjustment occurred on March 24th during the regular bi-weekly checkup, and the mining difficulty for BTC reached an all-time high of 46.84 T, which is a 7.56% increase from the previous period. The number of blocks in the network also reached a new high of 782,208 blocks.

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Hash rate, which refers to the total computing power of the network, also showed a significant increase in this latest statistical period, reaching 341.24 EH/s compared to the previous period’s average hash rate of 311.69 EH/s.

Mining difficulty refers to the complexity of the calculation process for mining, and it is adjusted automatically every 2,016 blocks to ensure that the processing time remains around 10 minutes per block.

Recent statistics on Bitcoin mining difficulty adjustments | Source: BTC.com

Since the beginning of this year, Bitcoin mining difficulty has increased by 30%, keeping up with the recovery of BTC prices. The cryptocurrency has risen by 70% from around $16,450 to hit a high of $28,700 on March 19th.

However, Bitcoin mining companies have been struggling with shrinking profit margins in 2022. Large companies such as Core Scientific, Argo Blockchain, and Riot Blockchain have all fallen into difficulties and face the risk of bankruptcy.

While some companies are struggling, others are trying to pivot their business models. For example, Stronghold Digital Mining has shifted its core business to selling mining energy. Applied and Riot have removed “blockchain” from their brand names to show their determination to move away from focusing on cryptocurrency. Most recently, TeraWulf has shifted to mining “clean” Bitcoin using nuclear energy, hoping to reduce the environmental impact of mining.

Bitcoin mining remains a highly competitive and challenging field, and the recent increase in mining difficulty and hash rate suggests that it will continue to be so. Mining companies will need to find innovative solutions to stay competitive while minimizing their environmental impact.

#bitcoin #btc #hashrate #mining #azcoinnews

This article was republished from azcoinnews.com