Home Tags Posts tagged with "hash"
Tag:

hash

CoinNews

What is the anticipated post-halving Bitcoin hash rate correction?

by CoinNews
written by CoinNews

What is CryptoSlate Alpha?

A web3 membership designed to empower you with cutting-edge insights and knowledge, powered by Access Protocol. Learn more ›

Connect via Access Protocol

Access Protocol is a web3 monetization paywall. When users stake ACS, they can access paywalled content. Learn more ›

Disclaimer: By choosing to lock your ACS tokens with CryptoSlate, you accept and recognize that you will be bound by the terms and conditions of your third-party digital wallet provider, as well as any applicable terms and conditions of the Access Foundation. CryptoSlate shall have no responsibility or liability with regard to the provision, access, use, locking, security, integrity, value, or legal status of your ACS Tokens or your digital wallet, including any losses associated with your ACS tokens. It is solely your responsibility to assume the risks associated with locking your ACS tokens with CryptoSlate. For more information, visit our terms page.

Source link

0 comment
0 FacebookTwitterPinterestEmail
CoinNews

Bitcoin’s hash rate hits record high after difficulty drop

by CoinNews
written by CoinNews

Quick Take

Bitcoin’s hash rate, an indicator of the computational power used for mining and processing transactions, has recently achieved a historic high. The 14-day moving average hash rate now stands at an unparalleled 586 eh/s, further enhancing the digital assets security. While the one-day hash rate peak of 711 eh/s on March 7 stands out, the 14-day moving average is considered a more reliable indicator as it smooths over short-term volatility.

Bitcoin Hash Rate Percent Change: (Source: Glassnode)
Bitcoin Hash Rate Percent Change: (Source: Glassnode)

This increase in hash rate signals a predicted adjustment of over 3% in the current difficulty epoch, expected on March 14, according to Newhedge.

This adjustment aligns with Bitcoin’s core design principle of maintaining a target block time of 10 minutes, directly influencing the projected timing of the next halving event. Per the Clarkmoody dashboard, if the ten-minute average block time is maintained, the halving event could potentially occur on April 21.

The post Bitcoin’s hash rate hits record high after difficulty drop appeared first on CryptoSlate.

Source link

0 comment
0 FacebookTwitterPinterestEmail
CoinNews

Bitcoin’s Hash Price Soars as Average Network Fees Spike by 288%

by CoinNews
written by CoinNews

According to the latest data, bitcoin has been trading above the $67,000 mark, with average network transaction fees experiencing a 288% increase from $3 to $11.64 since Feb. 25, 2024. Meanwhile, BTC has consistently stayed over the $60,000 level for eight straight days, elevating the daily value of one petahash per second (PH/s) of mining […]

Source link

0 comment
0 FacebookTwitterPinterestEmail
CoinNews

The new frontier in Bitcoin mining: Stranded energy utilization and open hash power markets

by CoinNews
written by CoinNews

In the latest episode of SlateCast, CryptoSlate’s Liam “Akiba” Wright and CEO Nate Whitehill welcomed Ryan Condron, CEO of Titan Mining and the creator of Lumerin Protocol, to discuss the current state of Bitcoin mining and the potential for hash power to become a valuable asset in the future.

How Titan Lightning streamlines the experience of mining

Titan Lightning, a new integration with the Lumerin hash power marketplace, aims to streamline the mining experience for users. As Condron explained, traditional mining setups often involved significant friction for newcomers:

“Previously, [new miners] had to set up an account with a mining pool, plug in the credentials — it was hard to onboard through that.”

Titan Lightning solves this by allowing users to simply provide a Lightning address when purchasing hash power through the Lumerin marketplace. The hash power then streams directly to the Titan Lightning pool, which pays users out in real-time on a “pay per share” basis.

Condron highlighted the powerful feeling of “purchasing hash power, which is essentially Bitcoin over time, and then you start receiving the stream of sats directly into your wallet.” This seamless integration removes barriers to entry, providing an instant and intuitive mining experience where users can see their rewards hit their Lightning wallet almost immediately after purchase.

Condron further explained:

“You can take a mining facility and put the hash power up for sale to the highest bidder. It’s an open market around hash power on a global decentralized anonymous scale.”

Why decentralizing hash power democratizes the Bitcoin network

Decentralizing hash power is crucial for maintaining the democratic nature of the Bitcoin network. As institutional investors and large mining pools increasingly dominate Bitcoin’s hash rate, there is a risk of centralization that could undermine the foundational principles of the network.

By enabling a global, decentralized marketplace for hash power like Lumerin, individual miners and smaller players can access and contribute computing resources without going through a centralized mining pool. This promotes a more evenly distributed hash rate and decision-making power over which transactions are included in blocks. Condron emphasized:

“Hash power needs to be accessible to everyone on earth if the Bitcoin network is going to stay democratized.”

A truly decentralized network, where no single entity controls a majority of the hash power, aligns with Bitcoin’s vision of monetary sovereignty for all participants. Initiatives focused on democratizing access to hash power are vital for upholding this ideal.

While acknowledging the potential for governments to regulate mining pools and on-ramps, Condron highlighted the need for a balanced approach:

“Governments really don’t like it when you mess with their money supply,” he said. “They’re going to look to regulate the ownership and control the transaction processing and interiors of the system.”

The future of Bitcoin mining: Embracing stranded energy

The future of Bitcoin mining lies in harnessing stranded energy resources worldwide. Many developing nations have abundant renewable energy potential that is underutilized due to infrastructure challenges or lack of local energy demand. Bitcoin mining presents an opportunity to monetize this stranded energy.

As Condron explained:

“With the advent of Bitcoin mining, you have miners coming in and actually government sponsoring mining build-out now because they realize that they can use up the electricity from these large production facilities to mine Bitcoin.”

Miners can establish operations near remote renewable energy sites, utilizing excess power that would otherwise be wasted. This facilitates Bitcoin’s sustainable growth and can drive economic development by bringing investment, jobs, and supplemental power to local communities with abundant but stranded energy resources.

The discussion with Ryan Condron offered insightful perspectives on the evolving landscape of Bitcoin mining and hash power. As the network grows, the democratization of hash power and the utilization of stranded energy resources will play pivotal roles in shaping the future of Bitcoin mining.

Watch the full podcast here.

Source link

0 comment
0 FacebookTwitterPinterestEmail
CoinNews

Bitcoin’s hash rate soars to record heights

by CoinNews
written by CoinNews

Quick Take

Bitcoin’s hash rate has reached an unprecedented high, marking a fourteen-day moving average of 566 exahashes per second (EH/s). This surge follows Feb. 2, a 7.3% rise in difficulty adjustment, bringing it to a record-setting 75.50T.

Hash Rate Adjustment Change: (Source: Glassnode)
Hash Rate Adjustment Change: (Source: Glassnode)

Over the past three weeks, since the Texas freeze-induced low, the hash rate has skyrocketed by 12%, further reinforcing the network’s resilience to external shocks. If this hash rate acceleration continues, the next difficulty adjustment epoch, scheduled around Feb. 15, is projected to adjust upwards between 7 and 12%, according to Newhedge.io.

This heightened hash rate has not only brought forward the projected halving date by a day to April 19 but also signifies the network is approximately 10,500 blocks away from this significant event, according to Clarkmoody.com. This upward trend in hash rate and difficulty adjustment reflects the increasing interest and heightened activity within the Bitcoin network.

Halving: (Source: bitcoin.clarkmoody.com)
Halving: (Source: bitcoin.clarkmoody.com)

The post Bitcoin’s hash rate soars to record heights appeared first on CryptoSlate.

Source link

0 comment
0 FacebookTwitterPinterestEmail
CoinNews

From freeze to flourish as Bitcoin hash rate showcases resilience

by CoinNews
written by CoinNews

Quick Take

The Bitcoin hash rate experienced a significant drop in the middle of January, triggered by the Texas freeze, which saw it plunge 6% from its record peak. However, this plunge was short-lived, as evidenced by Jan. 25, which witnessed the most significant single-day hash rate ever recorded, at an impressive 638eh/s, marking a 24% day-over-day increase.

Hash Rate: (Source: Glassnode)
Hash Rate: (Source: Glassnode)

When examining the seven-day moving average, it’s evident that the Bitcoin hash rate has demonstrated remarkable resilience. It has entirely recuperated from its recent downturn, reporting a 7.5% increase at 533 eh/s. This swift recovery is a testament to the robustness of Bitcoin’s decentralized network during times of unexpected adversity.

As we move forward, with another week left until the subsequent difficulty adjustment, projections from Newhedge signal an adjustment between 4.3% and 6.4%. Despite prior fluctuations, this suggests a steady and healthy growth trajectory for the Bitcoin network.

Bitcoin Difficulty Estimator: (Source: Newhedge)
Bitcoin Difficulty Estimator: (Source: Newhedge)

The post From freeze to flourish as Bitcoin hash rate showcases resilience appeared first on CryptoSlate.

Source link

0 comment
0 FacebookTwitterPinterestEmail
CoinNews

Texas freeze leads to dip in Bitcoin hash rate

by CoinNews
written by CoinNews

Quick Take

Bitcoin’s hash rate is currently experiencing a 6% dip from its all-time high of approximately 545 eh/s. On a 7-day moving average, it stands at around 513 eh/s.

Hash Rate: (Source: Glassnode)
Hash Rate: (Source: Glassnode)

This noticeable downturn can likely be attributed to the freezing temperatures in Texas leading to power adjustments, as Pierre Rochard, VP of Research at Riot Platforms, observed. To cope with these low temperatures, Texas’ natural gas power plants increased their output to 50 GW. At the same time, Bitcoin miners scaled back their operations to compensate for the low wind production, according to Rochard.

Texas Governor Greg Abbott said the Electric Reliability Council of Texas (ERCOT) avoided blackouts and scarcity pricing, marking a significant victory. However, these conditions have inevitably affected Bitcoin’s performance, and continuous monitoring of the hash rate and miners’ share prices will be required.

Turning to market indicators, the Hash Ribbon—a tool that presumes Bitcoin hits a low when mining becomes disproportionately costly—suggests that the worst of miner capitulation might be over. This conclusion comes from observing the 30-day MA of the hash rate crossing above the 60-day MA. While there’s no current indication of capitulation, close monitoring of these figures will be critical in predicting future buying opportunities and market behavior.

Hash Ribbon: (Source: Glassnode)
Hash Ribbon: (Source: Glassnode)

The post Texas freeze leads to dip in Bitcoin hash rate appeared first on CryptoSlate.

Source link

0 comment
0 FacebookTwitterPinterestEmail
CoinNews

Iris Energy to double hash rate in 2024 with $22M Bitmain T21 mining rig order

by CoinNews
written by CoinNews

Renewable Bitcoin (BTC) mining firm Iris Energy is set to increase its total hash rate to 10 exahashes per second (EH/s) in 2024 by acquiring new Bitmain T21 mining rigs.

The company announced it had acquired an additional 1.6 EH/s of Bitmain T21 miners, set for delivery in the second quarter of 2024. The company currently has 5.6 EH/s of operational capacity as of December 2023.

The newest generation of Chinese manufacturer Bitmain’s mining hardware will also improve the efficiency of Iris’ operations from 29.5 joules per terahash (J/TH) to 24.8 J/TH. Iris invested $22.3 million in the latest order from Bitmain, pricing the hardware at $14 per terahash.

Related: Iris Energy to nearly triple hash rate with estimated 44,000 new BTC miners

Iris expects to bring 1.4EH/s of mining output by powering up a previous order of Bitmain S21 miners in the first quarter. It is also awaiting a different batch of Bitmain T21 miners, increasing its capacity by 1.3 EH/s.

Iris announced the 80-megawatt (MW) expansion of its Childress data center operation in Texas in June 2023. The company has indicated that additional operational capacity will be delivered from January 2024, allowing for the increase in operating hash rate up to 10 EH/s as it receives new hardware from Bitmain.

The company also plans to build another 100 MW of data centers at the site, which is made possible by providing an additional 500 MW of power capacity that is already available to the operation.

While Iris has primarily been focused on Bitcoin mining, it has expanded its data center to service the growing demand for generative artificial intelligence computing. Iris invested $10 million in August to purchase 248 state-of-the-art Nvidia H100 GPUs, which are set to be delivered by the end of 2023.

The company currently operates data center facilities in different sites across North America, including Canal Flats, Mackenzie, Prince George in Canada’s British Columbia and its Childress site in Texas.

Iris claims that its four operations use 100% renewable energy, with the data centers generating power from a mix of wind, solar and hydroelectric sources. A disclaimer on its website notes that its three Canadian sites generate 98% of their power from renewables. The remainder of its energy use is offset by purchasing renewable energy certificates. 

Magazine: Real AI & crypto use cases, No. 4: Fight AI fakes with blockchain