After the last adjustment that resulted in a slight 0.96% reduction, the upcoming difficulty retarget on Dec. 23, 2023 is anticipated to bring about an increase, eclipsing the previous decline, as the hashrate regains its upward trajectory. The seven-day average hashrate reached a low of 473 exahash per second (EH/s) on December 11, and has…
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Source: AdobeStock / AndriiKoval OKX Ventures, the investment arm of cryptocurrency exchange OKX has joined the Ethereum Climate Platform (ECP) to partner towards sustainable climate goals. In a Dec 6 press release, the company announced the decision to join the platform and highlighted plans targeted to decarbonize the web3 ecosystem amid recent climate reports on…
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Licensed crypto mining companies have urged the government in Kazakhstan to revise its taxation policy regarding the sector, which they say is in dire straits. The largest mining firms plan to leave the Central Asian nation by the end of this year, warned the members of the industry. Miners Criticize Kazakhstan Government’s ‘Unbalanced’ Tax Rules…
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A new Glassnode report says that Bitcoin (BTC) Ordinals are not displacing monetary transfers despite concerns of network clogging. In a Sept 25 release, on-chain analytics firm Glassnode explained the role of BTC inscriptions on the network, their impact in competition with other transactions, and how they shape the mining industry. According to the report,…
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On Tuesday, September 5, 2023, Bitcoin’s mining difficulty experienced a 2.65% dip at block height 806,400, offering a slight reprieve for miners. This marks the first decline since July 26, when a 2.94% slide was recorded at block height 802,368. Bitcoin Miners See Relief With 2.65% Difficulty Drop and Rising Hash Price As of Tuesday…
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Drivechain, a Bitcoin improvement proposal that presents a way of scaling Bitcoin using sidechains, level two blockchains that receive bridged tokens from a parent chain, is generating a loud buzz on social media from supporters and detractors. While Paul Sztorc, the author of the Drivechain proposal, states that its concept seeks to drive all innovation…
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While Bitcoin experienced two difficulty adjustments upward last month, the next one, expected around September 6, 2023, is estimated to be a reduction. Currently, the network’s hashrate is about 367.58 exahash per second (EH/s), with an average of 380.90 EH/s over the past ten days. After a Rocky Month, Bitcoin Miners Poised for Potential Difficulty…
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August has proved to be a challenging month for bitcoin miners, facing two difficulty spikes and witnessing the currency’s value plummet over 10% in the past 30 days. This decline in value has pulled the network’s hash price to levels reminiscent of late 2022. At present, miners receive roughly $60 daily for every petahash per…
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As the Bitcoin network hash rate tops 414 EH/s, miners are struggling to stay afloat amid plummeting profitability. Bitcoin mining revenue or “hash price” — a measure of dollars earned per TH/s per day — has slumped to levels not seen since the collapse of FTX in November 2022, while hash rate has reached new…
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Bitcoin miners faced another uphill battle this month, marking the second straight increase in mining difficulty. On August 22, at block height 804,384, the difficulty surged by 6.17%. This fresh peak in Bitcoin’s difficulty sets a new record, intensifying the challenge for miners in securing block rewards. Bitcoin Difficulty Jumps More Than 6% Higher On…
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