During this week, the markets remained in a tense calm awaiting the results of the elections in the United States. But Bitcoin mining, for its part, never stopped its movement, in this work we present you the TOP 5 of the most important news.
Before starting with the analysis, it is important to highlight some elements that shone in this sector. One of them the continued bottleneck of the main cryptocurrency network, which keeps transaction fees at an unusually high level.
Another aspect of great importance is that the Bitcoin Hashrate begins to recover after the massive disconnections in China. From last week until now, it has been close to 120 EH / s. Which indicates that the disconnected mining companies in Sichuan are already being reconnected in their places of origin.
This is the TOP 5 of Bitcoin mining news
Among the most outstanding news of the last 7 days, CryptoTrend, as always, brings you a summary. Here is the Top 5 of the most important Bitcoin mining information of this week.
- Bitcoin hashrate recovers after disconnections in Sichuan.
- Bitcoin miners’ income reaches pre-Halving levels.
- Cryptocurrency mining attracts renewable energy producers.
- Shares of manufacturers Ebang on Nasdaq, remain at a good pace.
- Hive Blockchain purchases and installs 1,240 ASICs.
Computing power regains strength
One of the most important news in recent weeks and that of course could not be missing in this summary, is the state of Hashrate. In many ways, computing power affects Bitcoin mining, which is why it is the main information in this TOP 5.
The Hashrate of the most important of the digital currencies, was placed below 110 EH / s, which generated many reactions in the network. The most obvious of these was the decrease in the difficulty for miners to process blocks. Related to this, there was also a significant increase in transaction fees.
The fall and recovery of the Bitcoin Hashrate at this time is an event that has become common. It is related to the end of the winter season in the People’s Republic of China. Particularly in Sichuan, hydroelectric power returns to pre-rains prices, causing the miners to flee.
Miners’ income skyrockets to pre Halving levels
As mentioned this week, Bitcoin mining made significant income this past October. The percentage growth, compared to September, was 8%, generating revenues of US $ 353.7 million.
But in the first days of this month, income soared to pre-Halving levels in May. It should be noted that before the Halving, the daily income was approximately USD 20 million. After the cut, it has ranged between $ 10 and $ 12 per day on average.
However, on November 2, it began to rise outstandingly and reached 15 million USD. For its part, on November 3 and 4 it was imposed up to $ 16 and $ 21 million respectively. From there, it fell slightly to $ 18 and $ 16 million on successive days.
Cryptocurrency Mining Attracts Renewable Energy Producers
Another piece of information that cannot be missed in this TOP 5 related to Bitcoin mining is a green trend. It is one of the largest renewable energy producing conglomerates in the world, the En + Group, which formed an alliance with BitRiver to mine cryptocurrencies and preserve the environment.
The agreement between the two companies resulted in the creation of Bit + farms in the Russian Federation. The first of these Bitcoin generation centers with hydroelectric power, will have 10 Megawatts.
Although the impact of Bitcoin mining on the environment, according to recent studies, is less than previously thought, doubts persist. Faced with this, this type of initiative tries to contribute with an image more attached to reality in terms of the impact of the digital mining industry on the environment.
Ebang shares remain strong on Nasdaq
The Chinese company dedicated to the manufacture of equipment for Bitcoin mining, Ebang, remains with a good level in the stock market. Together with its compatriot Canaan Creatives, they are the only two firms of their kind to be listed on Nasdaq. The first has less time and its actions have behaved better than those of the second.
Ebang has been listed on the stock exchange since June 26. On September 17 its shares peaked when they traded at nearly $ 15. Also, the expectations of the firm when starting to operate in the stock market, was that its shares would average $ 8.
With that, Ebang planned to invest in more efficient mining equipment, which would allow it to compete with giants like Bitmain. Currently the shares of the Asian firm are trading at $ 8.3.
Hive Blockchain buys 1,200 machines and immediately installs them
The Hive Blockchain company, dedicated to Bitcoin mining, entered the TOP 5 of the most important news of the week, thanks to its purchase. On Friday, according to data from the CoinDesk portal, the firm bought a total of 1,240 ASIC equipment and they immediately began to produce.
This is a very fast move, which was coordinated by the company with its partner, MicroBT. The equipment, of course, is the most recent of this manufacturer, the M30S, which has a power of 100 TH / s.
In this way, the mining capacity of Hive Blockchain skyrocketed almost twice. Prior to the purchase, its installed mining companies produced about 116 PH / S. Now they touch the 30 PH / s. Since April this year, the company has installed approximately 3,436 computers, of which about 2,200 belong to Bitmain’s S17 and T17 series.
Data to take into consideration
- Currently, the Bitcoin Hashrate has recovered by almost 10 EH / s, following the major drop in recent weeks.
- The Hive Blockchain company, so far this year, has bought more than 3,400 miners from Bitmain and MicroBT.
- Miners’ income is currently well above the post-Halving average. The latest report placed it at $ 16 million.
- Ebang shares on Nasdaq, remain above 8 dollars and its performance is much higher than that of its similar Canaan Creatives.
- In October, Bitcoin mining as a whole reported revenue of $ 353 million. 8% more than in September.