Bitcoin

Massive growth of Bitcoin mining by 600.000 new, ASICS

Last week, you could be on bitcoinmagazine that power, and, therefore, the safety and security of the bitcoin network, a new all-time high level. From this it is concluded that in the last few years, many new mining machines are turned on. According to a quick calculation, the past three months, more than 600,000 new mining devices are put online.

Computational bitcoin reaches a new all-time high

According to the data from the cryptomining pool BTC.com achieved by the bitcoin last week, and a record is: 94 exahashes in a second. With this hashrate, it is with the two-week average, and thus, a new threshold is passed. The level of difficulty of the mining (mining difficulty) achieved a new all-time high: in the 12 billion. Since the beginning of June, both of these numbers, with more than 60% of the increase.
The degree of difficulty indicates how easy or difficult it is to get a block full of transactions to mine. This is a number that adjusts itself every 2016 blocks, and it automatically. This amounts to once every two weeks.
This is done in order to ensure that each and every 10 minutes a new block is generated, and continues to be, even if the number of machines participating in the network is unstable. It will, therefore, have a certain degree of stability.

New mining equipment

In the summer, there are several different models of the new ASIC miners on the market will be made available. This is a term which stands for Application-Specific Integrated Circuit, and it can be a hashpower to achieve up to a 55 ” terra hashes per second (TH/s)
On the assumption that the 35 UM/s to the network since the end of June, from the new models, it can be calculated, the number of new machines as it is. It’s going to be more than a half-million (!) devices connected to the network and contribute to it.
This is the most powerful miners come out from manufacturers like Bitmain, Canaan, MicroBT and InnoSilicon is coming from. They will cost in the range of $1,500 to the $2,500.
With the increasing hashrate and the difficulty level of the Bitcoin is in-line with the increase in the price of BTC, which earlier this year embarked on. This leads to an increase in demand for mining equipment. After all, it is more cost-effective and will become more and more attractive to the cost-to-go in exchange for a higher residual income.
It is also due in part to the rainy season in the south-west of China, which has resulted in cheap and abundant energy. Miners are looking for the places where power is not (!) scarce as it is, and is not to be used. So as to get the scraps of the electricity of the world, is a very useful application.

Mining in Russia

In Russia, there is a growing interest in the mining of cryptomunten. In Mexico, it is many decades ago, a hydro-electric plant was built. It is currently used for mining farms. Is estimated to contribute to nearly 10% of the power for the entire network.
Interested in bitcoin mining, it is also in the industry more visible. If you have devices that you want to order, you will need to pre-order for a product that is only three months can be sent.
TokenInsight, a startup which is all about crypto-analysis, published earlier this week in a report in which they stated that in the next few months, a great many of the new rigs on the market in the future.

β€˜The strong growth in the price of a Bitcoin, there is an inflation in the market for mining equipment. There was a gap in orders in Q2 and Q3, are positioned. It will be at the end of the year, is to be dealt with.’
TokenInsight

The analyst firm has reason to believe that the world is still far to be achieved. It is very likely that we will before the end of the year, a new milestone is going to reach a network of 100 UM/s in the process.
Source:: Coindesk
The new Bitcoin News on: Bitcoin, and the Lightning Network, as well as the measures taken by The Bank

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About the author

Jeremiah Faber

Jeremiah Faber

Jeremiah is an explorer by heart – both in the physical and the digital realm. A traveler, Jeremiah continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Jeremiah and through his business acumen has gained financial profits as well as fame in his business niche.