CM – Bitcoin’s hashrate drops by 15% in 10 days, price and difficulty put BTC miners under pressure – mining Bitcoin News

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Bitcoin’s price has been on a long losing streak since November 10, 2021 when the leading crypto asset hit an all-time high of $ 69,000 per unit. Bitcoin has lost more than 19% of its value in the past two weeks, and the network’s hashrate has dropped from over 200 exahash per second (EH / s) to 174 EH / s, and has lost about 15% in ten days. </ This week, the unrest in Kazakhstan has led many people to speculate on whether or not it would affect Bitcoin's global hashrate. The reason for this assumption is that, according to the latest estimates by the Cambridge Center for Alternative Finance (CCAF), it is estimated that Kazakhstan accounts for at least 18% of the global hashrate. A look at the 30-day chart for Bitcoin's hashrate (BTC) shows that the protocol's hash power has lost about 15% in ten days.

Reports from Kazakhstan suggest that the unrest has stabilized , and the Data Center Industry and Blockchain Association of Kazakhstan (NABCD) said the issues had no impact on digital currency miners. Over the past week there have been some issues that may have affected bitcoin miners unrelated to the issues in Kazakhstan.

Five days ago, Bitcoin (BTC) traded for $ 46.5,000 per unit the hand, but the price lost more than 10% in value. Additionally, the top performing mining rig at more than 100 terahash per second (TH / s) would have received $ 25 to $ 30 per day per machine over a month ago and an electricity price of $ 0.12 per kilowatt hour. Today, at the time of writing, the same mining rig will produce $ 14.87 per day using the same power consumption. The drop in Bitcoin price could definitely affect the hashrate and could be one of the reasons it dropped 15%.

Another reason the hashrate dropped 15% could be the latest increase in the Mining difficulty be. The last increase occurred on January 8, 2022 when the network’s mining difficulty increased 0.41%. While this isn’t a large increase, the difficulty is very close to the metric’s all-time high, and the network has seen three consecutive increases. In more than 11 days, the mining difficulty is expected to increase again, by 0.67% from today’s level.

Currently, the pool distribution statistics for the past three days show that F2pool and Foundry USA are now the world’s leading mining companies. Pools are because both pools are each 16.74% of the global hashrate, or 29.03 EH / s per pool. There are 13 known mining pools that dedicate the SHA256 hashrate to the BTC chain, and the unknown hashrate is 1.40% of the aggregate, or 2.42 EH / s. Despite the recent drop in hashrate from December 31st to date, the hashrate has increased by 26.08% since the day before the new year % has lost? Let us know what you think on this matter in the comments below.

Jamie Redman is the News Lead at Bitcoin.com News and a Florida-based financial tech journalist. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for bitcoin, open source code and decentralized applications. As of September 2015, Redman has written more than 5,000 articles for Bitcoin.com News on the disruptive protocols emerging today.

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement for any product, service, or company. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author are directly or indirectly responsible for any damage or loss caused or allegedly caused by or in connection with the use or reliance on the content, goods or services mentioned in this article.

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