$BTC US to Dominate Bitcoin Mining with Over 40% of Global Hashrate by End of 2024 Description The United States (US) has solidified its position as the leader in Bitcoin mining by controlling over 40% of the global hashrate by the end of 2024. This is due to the collaboration between two large US-based mining pools, Foundry USA and MARA Pool. Foundry USA has seen a significant increase in hashrate, from 157 exahashes per second (EH/s) at the beginning of the year to around 280 EH/s in December, making it the largest mining pool in the world with control of 36.5% of the total Bitcoin network hashrate [2].
#BitcoinHashRateSurge US to Dominate Bitcoin Mining with Over 40% of Global Hashrate by End of 2024 Description The United States (US) has solidified its position as the leader in Bitcoin mining by controlling over 40% of the global hashrate by the end of 2024. This is due to the collaboration between two large US-based mining pools, Foundry USA and MARA Pool. Foundry USA has seen a significant increase in hashrate, from 157 exahashes per second (EH/s) at the beginning of the year to around 280 EH/s in December, making it the largest mining pool in the world with control of 36.5% of the total Bitcoin network hashrate [2].
#BitcoinHashRateSurge do you know? š Bitcoin Hash Rate Surge: What Does It Mean? Have you ever heard of the term hash rate in the crypto world? If not, it's time to upgrade your crypto knowledge! Hash rate is the computing power used to process transactions and secure the Bitcoin network. Well, if suddenly there is a surge or spike in the hash rate, what happens? š¤ š 3 Things You Must Know: 1ļøā£ Stronger Security: With a high hash rate, the Bitcoin network is more difficult to attack, including 51% attacks. So, your assets are safer! 2ļøā£ Tight Competition: Miners are increasing or becoming more sophisticated. But... this can make mining more difficult and competitive. 3ļøā£ Signal of Optimism: This spike is often a bullish indicator. Many people believe that the future of Bitcoin is bright! š This increase in the hash rate can also be a sign that mining technology is getting more advanced, or that miners are finding cheaper energy sources for their operations. š” So, what do you think about this spike in hash rate? Is this the bullish sign weāve been waiting for, or is it just another challenge? š§#CryptoKnowledge#CryptoMining