While some panicked, other industry experts pointed out that the Bitcoin network has become verifiably stronger than ever before. The growth of the Bitcoin network has become apparent, as hash rate figures for BTC continue to set new highs this month. For example, on Jan. 22, theThe hash rate will continue to grow, which is a good thing
As such, the recent hash rate figures for Bitcoin are extremely notable, even with the price of BTC being down. Peter Wall, CEO of crypto mining firm Argo Blockchain, told Cointelegraph that he wasn’t surprised to see the BTC hash rate hit close to 200 EH/s. Wall further stated that even with events that have recently disrupted BTC mining hash rate like the“Argo Blockchain’s mining margin last year in 2021, which is our revenue minus our direct costs, was over 80%.
With this in mind, Feinstein noted that even though the BTC network has hit all-time highs in terms of EH/s, due to the massive improvements in miner chip technology and geographic distribution away from China, the network is now the most efficient and sustainable than it has ever been. Feinstein added that this data is important because it shows how much energy every terahash uses, which is generally represented by a metric called jules/terahash.
However, Levitt mentioned that this growth is dependent on the price of Bitcoin moving forward, along with the success of the infrastructure currently being built. “The amount of infrastructure expected will be challenged by global supply chain issues,” he remarked.
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Interesting times are comming...!
I know, but this is something
Another Bitcoin volatility index is ready for another massive move. The next week could be the start of a new price trend. Keep your eyes on it. Bitcoin maxime_josh is a super underrated bitcoiner I’ve been taking his tweets and tips & I’ve been doing great. Follow him
Theta is aggressive too!
How will this influence bitcoinprice? Bitcoin
Moving to a PoS algorithm is essential!
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