The historical maximum of the bitcoin hash rate was updated on the first day of 2020
A new record was set for the aggregate computing power of the Bitcoin network, which is now 119.35 EH / s. The above indicators were recorded already in January 2020, namely on the first day. In addition, the mining company ArgoBlockchain launched 3616 additional Antminer T17 ASIC devices until January 10. Due to this, the power indicators increased by 159 PH. By the end of winter, it is planned to increase the capacity of this company to 640 PH. Many experts believe that this will affect the price and it will be possible to buy Bitcoin more expensive.
There was an increase in the hash rate of the bitcoin network throughout the year. In autumn, 50 TH / s was reached, but over time it decreased slightly. Despite this, it soon doubled - from 40 TH / s to 90 TH / s. The reason for the growth is the launch of new mining rigs in large numbers. At the same time, old models are gradually being replaced by new ones that are more efficient. However, after conducting a study, Binance specialists found that not all miners rationally used new opportunities. It was noted that many miners were mining Bitcoin SV in the past year when Bitcoin was much more profitable. As a result, almost $ 13 million was lost.
Bitcoins above the plan
Most likely, it was precisely because of the rapid increase in the speed of calculations that a rather interesting phenomenon was observed, which consists in the production of so-called over-planned bitcoins by miners. The algorithm of operation of this altcoin allows mining 52,560 blocks in one year. Despite this, in the previous year, almost a couple of thousand more were produced. If you translate these numbers into monetary equivalent, then the total value of Bitcoin is $ 100 million.
The studies carried out made it possible to obtain confirmation that the share of Chinese miners has increased to 65%. This is the maximum level in two years, during which such monitoring has been carried out. Of these, 54% of all computing power is located in Sichuan province. The rest (31%) are located in the USA, Canada, Iceland, Russia, Norway, Georgia, Iran and Sweden.
Special attention was paid to the fact that large mining companies, which are located in the United States of America, began to rapidly develop. Bitcoins prospects for mining are pretty good. At the same time, the Bitcoin blockchain remains one of the most reliable.
Bitmain specialists built a mining center in Texas with a capacity of 50 MW. The possibility of growth to 300 MW is also noted. In addition, there is an even larger project in the area. We are talking about a mining farm that was built by the German company Northern Bitcoin. The capacity is 1 GW, and the area is equal to 57 football fields.
Miners will need new, state-of-the-art equipment with high efficiency rates, which will create greater opportunities for manufacturers. The result is likely to be a redistribution of the market. Some experts believe that after that it will be possible to buy Bitcoin at a higher cost, but others are confident that the Bitcoin price will not change.