Cryptocurrency

Mining Bitcoin: featured News

The mining of Bitcoin is a world of never-ending events. It is a business that is expanding and evolving, generating a variety of news. Here, we present a summary of the most important of the week.

The impact of the Halving seems to have not finished have an impact in regard to the mining of the main criptomoneda. For example, in the case of the continuous disconnection of obsolete equipment.

The miners of under-performance continue to leave the game. This week there was a new setting in the difficulty of the network, which was in increase, hastening even more the capitulation of the machines that are not generating profits. The mining of other cryptocurrencies also generated news, such as the case of Ethereum.

The mining cryptocurrencies during the week

As explained during the news summary on mining Bitcoin in the past week, the capitulation continues. The low cost of electricity due to the rainy season in Sichuan, was not enough to stop the disconnection of mining obsolete.

The large increase in the difficulty of the network Blockchain of Bitcoin, the strongest in months, was the determining factor. As expected, the same caused disconnections in mass than did lower again the Hash Rate Bitcoin of 123Eh/s to less than 110Eh/s.

Regarding the mining of Ethereum, there were also important developments. The miners of that criptomoneda voted to increase the limit of Gas of 10,000,000 to 12,000,000.

This last, it was an action that caused controversy among users in social networks. Despite the fact that the increase accelerated the ability of the network to process transactions, the same could bring long-term consequences. This because, according to experts, could cause the network to expand and become complex as the Bitcoin.

One of the news key in the field of mining Bitcoin, has been the decline in the Hash Rate. Source: Blockchain.com

These were the most outstanding news on mining Bitcoin of the week

Mining of Ethereum increased the limit of Gas, making the speed of the network is increased to 25%.Manufacturer of ASIC to mine Bitcoin, Ebang, declared large losses during the first quarter of the year.Difficulty of the network Blockchain of Bitcoin is adjusted, in one of the increments, the more strong the past few months.Actions of the manufacturer of hardware for mining Bitcoin, Canaan Creatives continued to plummet on the Nasdaq exchange. The negative record of the Chinese company in the market started in may.Hash Rate of Bitcoin continues to rise up to the levels prior to the Halving.Mining of Ethereum are prepared before the evolution to the ETH 2.0 that could be operated at the end of the year.

Data to be taken into consideration

Hash Rate of Bitcoin dropped from 123Eh/s to 110Eh/s because of the capitulation of miners obsolete.Limit of Gas of Ethereum rose in 25% of 10 to 12 million.Increase the difficulty of the network of Bitcoin, increased by 15%.Losses of the manufacturer Ebang, amounted to $ 2.5 million during the first quarter of 2020.

What is expected for the next week

For the next week, we expect more happening important in the mining Bitcoin, which will generate news and highlights. During the next 7 days, the difficulty of the network will remain high, resulting in greater disconnection of machines obsolete.

Directly related to this, the Hash Rate of Bitcoin could continue falling. However, the continuous activation of equipment of last generation as the series S19 from Bitmain or the M30S+ of MicroBT, would be important factors to balance this scale.

The distribution of mining new, will continue to make more remarkable the process of decentralization of the power of the hash of Bitcoin. Although the first place in concentration of farms, of mining Bitcoin is China by far, other places in the world such as the united States, are gaining ground quickly.

Reliable sources

The information of this content has been taken from reliable sources which are detailed below:
1 – professional Management of content by the authors of CriptoTendencia.
2 – external Sources: Blockchain.com, Etherscan.io, Ethgas.io, sec.gov.

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About the author

Belinda Carey

Belinda Carey

A finance girl by education, Belinda has been drawn to cryptocurrencies ever since Bitcoin first emerged in the 2009. Nearly a decade later, Belinda is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies.

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