Wednesday , January 27 2021

Trend of high-yield Bitcoin mining processing to new record | CryptoNews

Bitcoin mining is still growing, to the point where it has reached a new hash-related milestone (hashrate), which reached new heights this week.

Different sites specialized in data collection in the Bitcoin network agree that the hash rate has increased considerably in recent days; although these differ in terms of the maximum number of equalizations per second achieved, and the exact date on which the ATH was achieved (All the time high).

CoinWarz is the portal that indicates the largest number, according to which O hashrate of Bitcoin reached 72.6 EH / s last Thursday, June 20. After making a peak, the hash rate of said network has decreased and is currently at 52.8 EH / s.

Graph the hash rate in the Bitcoin network in the last 30 days. Source: CoinWarz.

On the other hand, the website shows that ATH in hashrate Bitcoin is 65.1 EH / s and was reached on the 18th of the current month. In relation to the information shown by BitInfoCharts, the maximum historical hashrate Bitcoin was reached on June 15 and did not exceed 61.8 EH / s.

The relation between price and mining in Bitcoin

Historically, whenever the price of Bitcoin has sustained increases, the mining activity in this network tends to increase. The most recent example is precisely what is seen in the ecosystem today. BTC's recovery from $ 3,826 to $ 9,768 so far in 2019 has also boosted mining growth; which is reflected in an 80% increase in the hash rate between January and June this year.

The miners, motivated by the possibilities of obtaining a higher income before the reevaluation of the original cryptocorrĂȘncia, invest in more and better equipment, as well as in the eventual operational expenses involved in the start up of more devices dedicated to the bitcoin mining. This directly affects the mining power or the network hash rate; something that, in turn, affects aspects such as the production of blocks in the chain and the readjustment of the problem of mining.

The phenomenon related to the increase of the price of the BTC and the hash rate in its network also occurs inversely; that is, when the price of this criptomoeda falls, it also tends to diminish the miners' interest in operating in Bitcoin and, consequently, decreases their hashrate. This was seen in late 2018, a year in which the long and dramatic fall in the Bitcoin market forced many miners to shut down their equipment given the loss of profitability suffered by mining.

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