Bitcoin mining power breaks records after launching half a million new asics

The bitcoin hash has reached another new high, due to the fact that over 600,000 new powerful miners have connected to the network in the last three months.

According to the mining pool, the average bitcoin hash rate has crossed another important threshold, amounting to 85 EH / s over the past two weeks. Meanwhile, mining complexity has also reached a new record of almost 12 trillion.

It is noteworthy that both indicators have increased by 60% since June 14.

Several new ASIC miner models with an average hash rate of 55 TH / s entered the market since early summer. Presumably, the increase in network hash by 35 EH / s since mid-June is due to the launch of half a million of these powerful models.

Powerful ASIC miners released by major manufacturers such as Bitmain, Canaan, InnoSilicon and MicroBT cost between $ 1,500 and $ 2,500 apiece. Thus, the purchase of more than half a million such machines brought the leading manufacturers of miners an income of $ 1 billion over the past three months alone.

The speed and complexity of bitcoin hashing follows a rising price since the beginning of this year, which led to an increase in demand for mining equipment, which significantly exceeded the supply.

Earlier this year, Chinese miners calculated that the average bitcoin hash rate would surpass 70 EH / s in the summer, and this happened in August. Probably, major manufacturers of miners have already sold equipment that should be shipped before the end of the year, and customers place pre-orders, which will take three months to complete.

TokenInsight, a startup specializing in the analysis of cryptocurrency trading and mining, said in a report released on Friday that additional supplies of miners are expected to appear on the market in the coming months: “After a sharp increase in the price of bitcoin, there was an excessive increase in the bitcoin mining market in the 2nd quarter 2019 year. Most miners from various manufacturers experienced severe shortages, and pre-orders presented in Q2 and Q3 should be completed by the end of the year. ”

Therefore, according to company estimates, the complexity of mining will maintain its growth rate, which will reach 15 trillion by the end of the year. The average bitcoin hash value for the first time will exceed the threshold of 100 EH / s.

1 thought on “Bitcoin mining power breaks records after launching half a million new asics


This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: