Search Results for: coasting

Bitcoin Mining Difficulty Reaches All-Time High as Miners Face Second-Largest Increase This Year

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Bitcoin’s mining difficulty reached an all-time high (ATH) on Feb. 24, 2023, at block height #778,176, reaching 43.05 trillion hashes and surpassing the 40 trillion mark for the first time ever. The network’s difficulty increased by 9.95%, which is the second-largest…

Iris Energy Boosts Self-Mining Capacity With 4.4 EH/s of New Bitmain Bitcoin Mining Rigs

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Bitcoin miner, Iris Energy, announced plans to increase the company’s self-mining capacity, from 2 exahash per second (EH/s) to approximately 5.5 EH/s, after it receives 4.4 EH/s of new Antminer S19j Pro miners from Bitmain. Iris Energy Leverages $67 Million in…

‘Oil Prices North of $200’ per Barrel — Investor Expects Oil to ‘Crush’ Every Investment in 2023

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Amid the dreary global economy, a number of market strategists and analysts believe oil will be the number one investment in 2023. While a barrel of oil is coasting along at prices between $80.12 and $85 per unit, Goldman Sachs analysts…

While Miners Deal With Low BTC Prices, Bitcoin’s Mining Difficulty Target Expected to Increase 3% Higher

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Bitcoin’s mining difficulty target is expected to increase on Dec. 19, 2022, after printing the largest reduction recorded in 2022 on Dec. 5, at block height 766,080. During the last 2,016 blocks, Bitcoin’s hashrate has been around 254.3 exahash per second…

Bitcoin’s Total Hashrate Slides Lower in December as BTC Miners Struggle for Profits

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While bitcoin prices have been lower than the estimated cost of bitcoin production, the network’s hashrate has dropped a great deal since mid-November. Presently, the total hashrate dedicated to the Bitcoin network is coasting along at 236 exahash per second (EH/s)…

Bitcoin Miners Face a Squeeze as BTC Production Cost Remains Well Above Spot Market Value

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Bitcoin miners are dealing with lots of pressure following the recent difficulty adjustment increase on Nov. 20, 2022, and the leading crypto asset dropping further in value against the U.S. dollar following FTX’s collapse. Statistics recorded this past weekend show that…

Gold Outshined Bitcoin This Month Climbing 6% Higher Amid US Real Estate Slump, Lower CPI Data

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This month, gold has outperformed bitcoin after crypto markets shuddered from the recent FTX collapse, and the precious yellow metal climbed 6.12% since the first of November. The U.S. housing market has shown weaknesses and October’s U.S. inflation rate was lower…

Bank of England Hikes Repo Rate by 75bps — UK’s 30-Year Fixed Mortgage Rate Jumps to 7%

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On Nov. 3, 2022, the Bank of England followed the U.S. Federal Reserve by codifying the eighth consecutive benchmark bank rate hike by 75 basis points (bps). The increase brings the United Kingdom’s main lending rate to 3%, after a majority…

Bitcoin’s Hashrate Remains Stronger Than Ever in the Face of Crypto Winter Prices and Sky High Difficulty

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Despite the fact that bitcoin miners are getting bare minimums in profits per petahash per second (PH/s), and the myriad of headlines showing specific mining operations folding from the crypto winter, the network’s total hashrate continues to chug along at close…

Bitcoin’s Total Network Hashrate Hits an All-Time High at 321 Exahash per Second

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According to statistics on October 5, the total computational power backing the Bitcoin network tapped a fresh all-time high reaching 321.15 exahash per second (EH/s). Just after the record high, the network’s total hashrate was coasting along above the 300 EH/s…