A new week is ending in a bumpy way for cryptocurrencies, essentially for Bitcoin and its digital mining process. Little by little, the ghost of china begins to disappear from the scene. However, that is not to say that their influence does not continue to have an effect on everything related to the mining business around the world.
In this summary, some of the most important events of the last week in the framework of cryptocurrency mining are analyzed. Not only is the process of generating Bitcoin reviewed, but other important mineable digital currencies.
It can be said that the miners’ profits grew significantly. According to some analysis portals shown below, the representatives of this business received within a month, more than $ 833 million dollars.
These are the most important news of the week in Bitcoin mining
As always, in this customary summary, the most important news of the week in the field of Bitcoin mining are shown. Although these are abundant and could extend this work considerably, in it only the five most outstanding pieces of information are selected. These are the headlines:
- Bitcoin miners receive $ 833 million in a month.
- Stronghold mining company, presents IPO to finance its expansion.
- Difficulty of mining Bitcoin rises for the first time since May 29.
- Paraguay is emerging as another attractive destination for Chinese miners.
- Rolling Mining Farms: Why Isn’t Everyone Looking Good In America?
Bitcoin miners receive $ 833 million in a month
According to the firm Blockchain.com, in the period from June 27 to July 27 of this 2021, the income of the miners was outstanding. In that sense, during this week an important cycle was closed that marks a recovery in the dynamics of Bitcoin mining. Thus, the total amount collected by the miners was $ 833 million in the period of that month.
This underlined recovery is divided into two fundamental aspects. The first is the rise in the price of Bitcoin. The second is about the relative recovery of the mining hash power of the main cryptocurrency. It should be noted that, at the time of writing, the price of Bitcoin is located at $ 41,500 per coin.
For its part, the hashrate or computing power of this virtual currency is still recovering. It stands out that disconnections remain at a high rate in China. However, the reconnections of miners who emigrated to other countries, as well as new entrants, increase the proportion of the hashrate.
As the days go by, the magnitude of new connections and reconnections exceeds that of disconnections. It is a trend that will mark the recovery of the hashrate of this cryptocurrency.
Stronghold mining company, presents IPO to finance its expansion
The companies dedicated to the mining of Bitcoin, continue taking steps regarding their entry to the stock market and, this moved week, stands out Stronghold. It is a US firm that has requested an Initial Public Offering (IPO) to the Securities and Exchange Commission (SEC) of the North American country.
With this aspiration to be listed on the stock market, Stronghold aspires to finance its expansion into the Bitcoin mining business. In this way, this type of large-scale movements, where the reigning cryptocurrency has a presence on the stock market, makes it more solid and gives investors greater confidence. These are leaps and bounds towards the capital appreciation of the price of Bitcoin.
The company’s IPO is about $ 100 million. It is highlighted that one of the pillars of Strongholdas they defend, it is sustainable and vertical Bitcoin mining. With this, they make an effort to maintain a friendly business with the environment.
Difficulty of mining Bitcoin rises for the first time since May 29
The already underlined relative recovery of hashrate of Bitcoin with the increase in mining farm connections, it could start a definite recovery trend. Consequently, the computing power, although it remains in a sort of zigzags, now seems to take a serious step up. It is located at 127.55 EH / s.
The direct result of this growth is that the difficulty of mining has increased for the first time since the end of May. In this way, a chain of four consecutive downward adjustments is broken, which started on May 29.
This downward trend in the difficulty, lowered its level from the historical 25Q, to 13.67Q. In this last adjustment, the difficulty is positioned at 14.50T, 6.3% higher than the previous adjustment. On the other hand, the next change in the level of this index will be at the height of block 695,520. This corresponds to an approximate period of twelve days.