Bitcoin mining continues to expand worldwide as one of today’s key businesses. This time, we present a summary of the most important events in this area during the week.
Mining the most important cryptocurrency, Bitcoin, is one of the most effective ways to earn income in these times of pandemic. That is why millions of people turn their attention to it, making the importance of cryptocurrencies increase week after week.
In this roundup, we’ll take a comprehensive look, ranging from the current features of the legendary Antminer S9, to Binance’s plans in Eurasia. We also updated on the decision of Ethereum programmers to delay the new version of the 2.0 network by 2021.
Summary of Bitcoin mining news
- Bitcoin miners reduced the sending of cryptocurrencies to exchanges during the month of June.
- Bitcoin miners and investors would be willing to die rather than exit their Bitcoins if the price rises above $ 10,000.
- Legendary Antminer S9 enters terminal phase.
- Binance seeks to increase its Hash Rate in Russia and Central Asia.
- Ethereum postpones the release of ETH 2.0 for next year.
Mining in context
One of the most popular bitcoin mining equipment, the Antminer S9 is entering the final phase of decline. Since its release on the market in 2018, the price of this hardware, per unit, has fallen by 98%. This is due to its low productivity.
The low generation of Bitcoin by this ASIC is due to the increase in Bitcoin’s Hash Rate and its consequent increase in mining difficulty. But, more specifically, the decline of the S9 was precipitated by the Halving of last May 11.
Furthermore, Ethereum programmers announced that, for various reasons, the expected version 2.0 will be delayed until next year. It should be remembered that, with this update, the Ethereum Blockchain network will change the PoW protocol for PoS.
Likewise, the most important exchange in the world, Binance, has announced its intention to expand in Russia and Central Asia. With this new step, the firm would establish itself as one of the main pillars of Bitcoin mining in the entire Western Hemisphere.
Among other aspects about the Bitcoin mining business, it is highlighted that the miners of this crypto, predict an increase in its value. Therefore, they have reduced the amount of bitcoins sent to exchanges for sale. Limiting transactions only for farm operating expenses.
Data to consider
These are the main points to highlight in this weekly summary of news about Bitcoin mining.
- The power consumption efficiency per terahashes W / T of the 16TH / s S9 is 80.00 j / TH. It is a low efficiency compared to the 100 TH / s M30S +, whose efficiency is 34.00 j / TH.
- After May’s Halving, the productivity of the 14TH / s S9 dropped to 0.00100000 BTC every 8 or 9 days depending on the difficulty of the network.
- With the node applied to BitRiver, located in Russia, the Binance firm plans to increase the capacity of its pool in Eurasia, one of the areas with the highest hash power after China.
- The level of the sending of cryptocurrencies to exchanges by Bitcoin miners is the lowest in the last 12 months.
The information in this content has been extracted from reliable sources detailed below:
1- Professional handling of content by the authors of CriptoTendencia.
2- External sources: Chainalysis.com, BitRiver.farm, Cbeci.org.