Search Results for: global hashrate

Bitfarms Starts Bitcoin Megafarm Operations in Argentina

by

Bitfarms, a global Bitcoin mining company, has started operations in its mining megafarm located in Argentina. The farm, launched on September 16, is currently generating 10 megawatts (MW) of mining power during the first phase and will scale operations to be…

Bitcoin’s Mining Difficulty Change Prints 2022’s Second Largest Increase — Metric Nears All-Time High

by

On Wednesday, Bitcoin’s mining difficulty jumped 9.26% higher, recording the second highest difficulty rise in 2022. The latest rise is Bitcoin’s third difficulty increase since August 4, 2022, and it’s now 11.63% harder to find bitcoin block reward. Bitcoin Difficulty Jumps…

Electricity Consumption of Russian Crypto Miners Spikes 20 Times in 5 Years, Research Finds

by

Power needs of cryptocurrency miners in Russia have grown significantly since 2017, with consumption of electrical energy seeing a 20-fold increase over the five-year period. In 2021, the minting of the coin with the largest market cap, bitcoin, required 1.25 gigawatts…

‘Unprecedented Opportunities’ — Cleanspark Acquires 1,061 Bitcoin Miners at a ‘Discounted Price’

by

On Thursday, the publicly-listed bitcoin mining firm Cleanspark announced that it added 93 petahash per second (PH/s) of hashpower to the company’s existing operations by acquiring 1,061 Whatsminer M30S bitcoin mining rigs. The latest ASIC acquisition follows Cleanspark’s recent purchase contract…

Bitcoin’s ‘Fundamental Value Is Not in Line With Market Price’ — Crypto Miner

by

Profitable bitcoin mining is essentially a result of an efficient and highly skilled team of professionals that can maintain runtime, a founder of a Bitcoin mining company has asserted. Therefore, even when the price is hovering around $20,000, a bitcoin miner…

Bitcoin Hashrate Briefly Slips Below 200 EH/S During Market Rout, Less Than 100K Blocks Left Until the Halving

by

After reaching an all-time high on June 8, Bitcoin’s hashrate dropped during the recent bitcoin price drop on June 12-13 to a low of 182 exahash per second (EH/s). While bitcoin’s USD value remains under the $23K zone, Bitcoin’s hashrate has…

Bitcoin Miners May Get Another Break This Week as Network’s Mining Difficulty Is Expected to Drop

by

Bitcoin miners may catch another break this week as the network’s mining difficulty is estimated to see a reduction tomorrow. Every two weeks Bitcoin’s difficulty adjustment algorithm (DAA) changes, and during the last DAA change, the difficulty dipped by 4.33%. Currently,…

Bitfarms Worried About The Fall In Bitcoin Prices Amidst Its Investment Plan in Latam

by

Bitfarms, a global bitcoin mining company, has told that the price of bitcoin, above all other elements, is one of the most important factors for the future of the industry. Damián Polla, Bitfarm’s Latam General Manager, stated that countries like Argentina,…

Bitcoin Mining Difficulty Hits a Lifetime High After a 5.56% Increase, Metric Nears 30 Trillion

by

Bitcoin’s mining difficulty reached a lifetime high on April 27, at block height 733,824, after jumping 5.56% higher than two weeks ago. The difficulty jump further indicates that Bitcoin’s difficulty is also nearing 30 trillion, as the change on Wednesday shows…

Mining Report Shows Bitcoin’s Electricity Consumption Decreased by 25% in Q1 2022

by

At the end of May last year, Tesla’s Elon Musk convinced bitcoin industry leaders to form a Bitcoin Mining Council (BMC) and in mid-July, the BMC launched its public services and website. On April 25, 2022, the organization published a report…