hash

The network's mining difficulty is also nearing a record high, and is expected to rise at least 4.17% to 95.88T on October 22.

According to Ycharts, bitcoin's #hash rate, a key indicator of the network's security and efficiency, has jumped to an all-time high (ATH) of 791.62 million TH/s.
This new level also represents a significant improvement of 73.95 percent from a year ago.
According to Ycharts, #bitcoin has experienced a jump in hashrate over the past few weeks, having fluctuated between 574 million and 742 million in early October.
According to J. P. Morgan analysts, 14 U. S. -listed #BTC miners, including Marathon Digital, CleanSpark and IREn, have solidified their position as major global players. They attribute this growth to the efficiency and financial advantages of public operators, which have allowed them to withstand market volatility and increase #mining volumes.
Observers see the record hash rate as a sign that the bitcoin network is becoming more secure, but it also means that the cost of mining 1 BTC is getting higher.
In addition, the complexity of bitcoin mining is approaching an all-time high. At block 866,682, it reached 92.05 trillion, just a little short of the 92.7 trillion reached on September 11, 2024. This movement was accelerated by bitcoin's hashrate, which briefly surpassed 700 EH/s earlier in the week.
the complexity adjustment is expected to take place on October 22, when the complexity will increase by at least 4.17% to reach 95.88 trillion.
Interestingly, despite the increase in complexity and hash rate, the data shows that BTC miners are making a steady income: as of October 20, 2024, daily bitcoin mining revenue was $38.38 million, down 1.17% from the previous day. However, the year-over-year decline is much more significant: the current level is 33.2% lower than the same period in 2023.
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Recently, the hash rate of Bitcoin, which represents the computational power of the network, achieved a new all-time high. This occurred in the middle of the excitement that accompanied the launch of spot Bitcoin exchange-traded funds in the United States. According to information provided by IntoTheBlock, the Bitcoin hashrate achieved an all-time high of 630.91 million TH/s or 630 EH/s on January 11. This occurred less than twenty-four hours after the United States Securities and Exchange Commission authorized eleven spot Bitcoin exchange-traded funds (ETFs) at the national level.
Bitcoin Hashrate Strikes New Highs for the First Time
For the purpose of mining new bitcoins and processing transactions, the hashrate is a measurement of the total aggregate computing power that occurs. Regardless of whether the market is bullish or bearish, the Bitcoin mining hashrate has been steadily increasing since 2021. This has helped to solidify Bitcoin's position as the most secure cryptocurrency network. The information that was supplied by Coinwarz indicates that the hashrate began the year 2023 with 266 EH/s and completed the year at 598 EH/s, representing a progression of 125%.
A significant increase in the hashrate occurred on January 11, reaching an all-time high of 630 EH/s. The timing of this event was not a coincidence. Following the approval of the first US Bitcoin Spot ETFs by the Securities and Exchange Commission (SEC), the rise in hashrate occurred immediately after the SEC opened the door for mainstream investors to participate in the leading cryptocurrency without actually holding the commodity.
A frenzy of activity in Bitcoin occurred as a result of the acceptance of these exchange-traded funds (ETFs), which caused the on-chain volume of Bitcoin to reach its greatest level since the collapse of the cryptocurrency exchange FTX. In light of this, the hashrate has also grown, which is an indication that miners are increasing their activities in preparation for the increased interest and trading activity that often precedes the introduction of new exchange-traded funds (ETFs).
Mining Profitability and the Price of Bitcoin Both Fall
This is a sign of mainstream acceptance, which improves Bitcoin's legitimacy, and the approval of spot ETFs is an indication of this acceptance. Although there has been a rise in the amount of trade and the expansion of the network, the price of Bitcoin seems to have departed from this generally upward trend. In the beginning, the price of the cryptocurrency responded favorably to the approval of the spot ETFs, which caused it to surpass $48,600, which was its highest point since April 2022. This increase has now reversed, giving rise to the concept of a "sell the news event." This dramatic change of events takes place in the present day.
Since reaching this local high, Bitcoin has had an 11% decline, and it is now trading slightly around $43,000 at the time of this writing. Additionally, the volume of trading has decreased by 62% during the course of the last twenty-four hours.
Bitcoin mining profitability, which had been steadily increasing during the month of December, has not responded favorably to the legalization of spot exchange-traded funds (ETFs). The reduction in Bitcoin prices caused mining profitability to plummet to as low as $0.07958 per terahash/second per day on January 13th, according to statistics from Hashrateindex. This represents a 22% decrease from the $0.10270 per terahash/second per day that was recorded on January 1.
#BTC #etf #hash $BTC

Do you know what a hash is (Hash) 🔢🔓
The hash is the output of a mathematical function that transforms any input (such as text or data) into a fixed-length string of characters known as the hash value.
💎 How does it work ❌
When any data is input into the hash function, a unique and fixed-length code is produced that cannot be reversed to retrieve the original data.

Bitfarmers earned 217 BTC in September, down from 233 BTC in August. This decline is attributed to the increase in network complexity, which peaked in September. Despite this drop, Bitfarm met its year-end efficiency goal of 21 watts per terahash ahead of schedule.

The company also increased energy efficiency by 16%, signed a hosting agreement with Stronghold Digital #MIning , increased operating capacity by 2.2 EH/s, and increased #BTC reserves to 1,147 BTC. The decrease in BTC mining was due to an increase in network complexity, which peaked in September, making it harder to mine BTC despite operational improvements.In September, Hut 8 recorded a slight increase in #hash rate, from 18.5 EH/s in August to 19.5 EH/s at the end of the month.This increase was due to the company deploying additional miners. However, despite the increase in throughput, Hut 8 mined slightly less BTC: 85 BTC in September compared to 87 BTC in August.Over the same period, Iris performed better: its BTC mining volume increased significantly from 245 BTC in August to 347 BTC in September.The increase in mining volumes was accompanied by a 42% increase in mining capacity due to an increase in the operating #hashrate to 21 EH/s.October 4, BTC mining company CleanSpark revealed in its latest audited fiscal year report that its hashrate has increased by 187% over the past 12 months.The company's hashrate increased from 9.6 EH/s in September 2023 to 27.6 EH/s in September 2024, driven by strategic portfolio diversification across three new states.Read us at: Compass Investments

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