USA record and new balances
The post USA record and new balances appeared on BitcoinEthereumNews.com. In the first 14 days of August, Bitcoin network hashrate reached an average of 937 EH/s, marking a 4% increase compared to the previous period according to JPMorgan, while US miners continue to strengthen their influence, reaching 33.6% of global power. What does the new record of Bitcoin network hashrate mean? The term hashrate indicates the total computational power employed in mining and in the validation of transactions on the blockchain of Bitcoin, as it reflects both the industrial competition and the increasing difficulty of mining. In the period between August 1 and August 15, 2023, the Bitcoin network saw its average hashrate rise to 937 exahash per second. This is a stable yet significant growth, indicating that miners and investors are still betting on a very competitive sector, despite recent declines in profitability. The concentration of U.S. operators not only reaches a new peak (33.6% of the entire global network), but grows at a pace significantly higher than the global average. The 13 U.S. mining companies monitored by JPMorgan have seen their aggregate power increase by 94% year-on-year, almost double the global network average, which stops at 48% in the same time frame. This strengthening is driven by investments in new infrastructures and strategic partnerships; the push also comes from greater access to capital and advances in High Performance Computing (HPC), which allows for margin optimization even when the hashprice (profit per unit of power) decreases. Among the protagonists of August, TeraWulf stands out, having recorded a 74% increase in value in two weeks thanks to both the new colocation agreement with Fluidstack and the strategic investment by Google. These factors distinctly differentiate the performance of the miners: while TeraWulf soars, Riot Platforms marks a -16% in the same period. The combined effect of acquisitions and technological partnerships highlights…
The post USA record and new balances appeared on BitcoinEthereumNews.com.
In the first 14 days of August, Bitcoin network hashrate reached an average of 937 EH/s, marking a 4% increase compared to the previous period according to JPMorgan, while US miners continue to strengthen their influence, reaching 33.6% of global power. What does the new record of Bitcoin network hashrate mean? The term hashrate indicates the total computational power employed in mining and in the validation of transactions on the blockchain of Bitcoin, as it reflects both the industrial competition and the increasing difficulty of mining. In the period between August 1 and August 15, 2023, the Bitcoin network saw its average hashrate rise to 937 exahash per second. This is a stable yet significant growth, indicating that miners and investors are still betting on a very competitive sector, despite recent declines in profitability. The concentration of U.S. operators not only reaches a new peak (33.6% of the entire global network), but grows at a pace significantly higher than the global average. The 13 U.S. mining companies monitored by JPMorgan have seen their aggregate power increase by 94% year-on-year, almost double the global network average, which stops at 48% in the same time frame. This strengthening is driven by investments in new infrastructures and strategic partnerships; the push also comes from greater access to capital and advances in High Performance Computing (HPC), which allows for margin optimization even when the hashprice (profit per unit of power) decreases. Among the protagonists of August, TeraWulf stands out, having recorded a 74% increase in value in two weeks thanks to both the new colocation agreement with Fluidstack and the strategic investment by Google. These factors distinctly differentiate the performance of the miners: while TeraWulf soars, Riot Platforms marks a -16% in the same period. The combined effect of acquisitions and technological partnerships highlights…
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