Record of Bitcoin’s Computing Power (100K+ New Miners)

Record of Bitcoin’s Computing Power (100K+ New Miners)

In the last two weeks, the average mining hash rate of Bitcoin has already touched 71.43 quintillion hashes per second EH/s on July 23. the limit has been crossed because the bitcoin mining difficulty got compatible at height block height 586,672 on Monday. Bitcoin mining difficulty refers to the complexity that bitcoin software makes it to originate new blocks adjusts every 2,016 blocks presumably every 14 days to assure the block production time. ASIC miners ensured the additional computing power of 6.9 EH/s and Bitmain’s AntMiner S17 or MicroBT’s WhatsMiner M20S plumes a mining rate of around 55TH/s already hit the market.

It makes us think that up to 100,000 ASIC miners accessed in the last two weeks. As $2,000 was each product selling price that strongly means about $200 million in revenue made for major miner makers. A possibility of high price rate of cryptocurrency can be come because of incessant interest in bitcoin mining. It was assumed by the miners in China that in the summer the hash rate of bitcoin could break the level of 70EH/s but it already reached at 80EH/s on June. And the record rate came at approximately 10 trillion.

Market Revolution

Meanwhile, a change came under eyesight that manufacturers are vying for producing more powerful equipment. Some accept are equipped for delivery progressively top-of-line items with better productivity and this idea emerged in the mind of Bitmain as it is confronting serious competition from adversary players. The capacity ranking of products among their native players have changed over the years. The brand was in the top of the list of ranking during 2017 to 2018 just because of their AntMiner S9 series. But the capacity recently got reshuffled with the touch of MicroBT’s WhatsMiner M20 series at the top. AntMiner S17 Pro ranks third because of mining profitability and the cost of WhatsMiner M20S and AntMiner S17 Pro are gradually around $3,000 and $4,000. Orders from these two flagships queued up until November and December this year. A source told that the bottleneck of production capacity is the availability of chips from suppliers. The current reliance of Bitmain is Samsung this year for its flagship products.

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