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Bitcoin mining: the top 5 of the week

5


The Bitcoin mining business continues to develop around the world and generate important news. In this summary, we present the 5 most outstanding events of this week that is coming to an end.

Among the facts related to the extraction of cryptocurrencies, the Bitcoin Hashrate stands out as something of first importance. In this sense, the hash rate of the main cryptocurrency reached a new all-time high.

It is important to note that this fact directly affects the price of this digital currency, which suffered a stumble a few weeks ago. Now, it seems to recover and enter a new bullish stage, motivated by several factors such as buying pressure.

These were the 5 most outstanding news about Bitcoin mining

During the last 7 days, the news about Bitcoin mining was abundant, this is the selection of the CryptoTrend of the 5 most outstanding news:

  1. Abkhazia removes ban on digital currency mining.
  2. Iran has plans with Bitcoin mining farms.
  3. Cryptocurrency Mining and Remote Work Drive Sales of Graphics Cards in Russia.
  4. Bitcoin hashrate skyrockets and hits new all-time high.
  5. Android Devices Are Haunted By Crypto Mining Botnet.

Ban is lifted in Abkhazia

Despite recent arrests of miners on their territory, the authorities of the Republic of Abkhazia changed their minds. Now, the small country stands out again in our selection of the 5 most outstanding news about Bitcoin mining.

Most recently, Abkhazia, after blaming virtual mining for the acute energy crisis it is experiencing, decided to lift the measures that made this business illegal.

The reason for this could be motivated by the interest of the Caucasian nation in controlling energy expenditure and at the same time benefiting. In the latter sense, it could impose a tax regime on miners.

Persian auto industry could be driven by mining farms

Businessmen from the Islamic Republic of Iran hope that the government of that nation will allow imports using cryptocurrencies. This is another of the 5 most important news of the week in the field of Bitcoin mining.

This is because imported vehicles on the island of Kish, in Iran, have a high cost in taxes. With the help of Bitcoin, the entrepreneur highlights Gholam Hossein Mozaffari, there would be greater advantages when paying.

It should be remembered that Iran is one of the countries that suffers punitive sanctions from the United States. This fact has caused Tehran’s trade to be literally cornered.

Crypto mining and remote work in Russia

Another of the 5 most striking about Bitcoin mining, involves remote work and sales of GPU graphics cards in Russia. Thus, according to information from the local media Kommersant, sales of these cards have skyrocketed since the containment measures began.

As highlighted, the mining of Bitcoin and other cryptocurrencies has been of great help after the economic collapse caused by the Covid-19 pandemic. Whether it refers to the activity of mining or doing remote work paid with digital currencies.

This seems to be a marked reality in Russia. In that nation, GPU sales skyrocketed to keep many people’s economies alive.

The new record in the hash rate of Bitcoin was the protagonist of this selection of the 5 most outstanding news of the week related to mining. Source: Blockchain.com

Bitcoin hashrate hit new record high

Without a doubt, the most important event of this top 5 of the most important news of the week, is the new increase of the hash rate in Bitcoin mining.

At the time, CryptoTendency estimated that this historic rise in the Hashrate of the main digital currency, would increase the difficulty level by 7%. In fact, the level increased, but by 11%, which gives more importance to the fact.

The hash rate of the pioneering cryptocurrency currently has 143.1 EH / s. At the same time, it is expected to continue increasing as the Bitcoin mining business continues to grow in the world.

Botnet on the attack

As reported by the Beincrypto news portal, a mining Botnet would be stalking Android devices. Consequently, its discovery was made by computer expert Jindrich Karasek of Trend Micro.

According to the expert, the weakness of Android technology, as well as the attractiveness of the devices for hackers, makes them ideal targets. With this Botnet, cyber criminals will be able to mine cryptocurrencies.

Likewise, among the cryptocurrencies that hackers will obtain using the tablets or smartphones of the attacked people, are Monero and Bitcoin.

Data to take into consideration

  • The Bitcoin mining hash rate reaches 143.1 EH / s and the difficulty of the network increased by 11%.
  • Sanctions against Iran could push the Persian nation to authorize automotive import with payments in Bitcoin.
  • Sales of GPU graphics cards soar in Russia since the start of the coronavirus pandemic.
  • Monero and Bitcoin would be the favorite currencies that hackers would mine from Android devices attacked with a new Botnet.

Reliable sources

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: Btc.com, Beincrypto.com, Finanz.ru, Arzdigital.com and Kommersant.ru.



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