Since the transition from proof-of-work (PoW) to proof-of-stake (PoS), ethereum cannot be mined and miners are now dedicating hashrate to different PoW chains. Since ethereum can no longer be mined, the most profitable PoW consensus algorithms are Kadena, Scrypt, and Cuckatoo32. Before The Merge, the consensus algorithm Ethash was the most profitable, as the top miner raked in $79.53 per day in profits. Today’s top mining rig, with Ethereum out of the picture, accrues roughly $69.41 per day mining kadena.
Today’s Top 7 Mineable PoW Algorithms Include Kadena, Scrypt, Cuckatoo32, Blake2B-Sia, X11, Equihash, and SHA256
According to the latest data from asicminervalue.com, the PoW consensus algorithm is no longer the most profitable consensus scheme to mine since the Paris upgrade triggered Ethereum’s Merge. Since September 15, 2022, Kadena has become the most profitable consensus algorithm this year. Bitmain’s application-specific integrated circuit (ASIC) mining rig, the Antminer KA3, gets an estimated $69.41 per day with electricity costs at $0.12 per kilowatt hour (kWh). Miners mine the PoW blockchain Kadena (KDA) and the Antminer KA3 produces an estimated 166 TH/s.
Kadena’s network hashrate is around 0.21 exahash per second (EH/s) or 212.8632 petahash per second (PH/s). The second most profitable consensus algorithm using an ASIC mining rig is Scrypt, the consensus scheme associated with litecoin (LTC) and dogecoin (DOGE). Besides DOGE and LTC, a handful of other digital asset networks like verge (XVG) and digibyte (DGB) leverage Scrypt as well. Today’s top miner, Bitmain’s Antminer L7, can get an estimated $13.09 in daily profits. The top three miners below the Antminer KA3 are all Scrypt miners produced by Bitmain.
Below Kadena and Scrypt, the third most profitable PoW consensus algorithm is Grin’s Cuckatoo32. The top Cuckatoo32 ASIC mining device can get an estimated $7.48 per day in profits. Below Cuckatoo32 includes consensus algorithms such as Blake2B-Sia, X11, Equihash, and SHA256. The consensus mechanism SHA256 is leveraged by crypto networks such as bitcoin (BTC), bitcoin cash (BCH), bitcoinsv (BSV), and namecoin (NMC).
SHA256 is the seventh most profitable consensus algorithm and a BTC miner leveraging an Antminer S19 XP with 140 TH/s gets around $2.60 per day. With Ethereum removed from the equations, people can still mine Ethash coins like Ethereum Classic (ETC), but the top Ethash mining devices produce little profit in comparison to when people could mine ether.
Dogecoin shifting to proof-of-stake would be good for the environment, but what impact would it have on miners and ASIC manufacturers?
A change from proof-of-work to proof-of-stake (PoS) is rumored for Dogecoin.
Do I know if Dogecoin is switching to PoS?
No.
Do I believe it will go to PoS? Probably not.
But I love the “what if” game.
I try to predict where the market and the mining industry are headed as someone who works in the cryptocurrency mining sector and how that might pan out. The mining industry would be drastically affected if Dogecoin changed PoS or another aspect of how new blocks are created.
The options and their results are shown here.
Scrypt Mining Could Be Devastated
I won’t argue for or against Dogecoin switching to PoS. While it’s hard to determine if the recent rumors about the potential for a switch are true or not, they were enough to have Bitmain supposedly pause Litecoin miner manufacturing.
The larger question in my mind is, What occurs to miners if Dogecoin adopts PoS?
First, Scrypt mining would be devastated. Over 60% of the revenue from Scrypt mining is made up of DOGE. Any L3+, LT6, or Mini Doge Pro miner that isn’t using electricity that costs $0.04 per kilowatt hour would need to be unplugged right away if it were taken away.
For a while, the network would probably fluctuate erratically as older equipment miners struggled to decide whether to leave their ASICSs on or off. The apex Scrypt miner, Bitmain’s Antminer L7, would see its profitability reduced by nearly 75%, reducing profits to a whopping $4.83/day at $0.05/kWh.
What about the miners who lack access to industrial electric rates? You could make $0.72 per day using the L7 9050M, which recently sold for about $9,000, at a cost of $0.10 per kWh.
Yikes!
The likelihood of those who recently bought an L7 ever recovering their investment, let alone making any money, would be extremely low in the event of such a significant change.
ASIC Manufacturers Would Be Forced to Drop Prices, Further Impacting Their Bottom Line
The vastly reduced profitability would inevitably lead to the price of the L7 dropping quicker than it did during the COVID-19-induced crypto crash. Miners would expect the L7 to cost between $1,825 (12-month ROI) and $2,737.50 (18-month ROI) if miners were only charged based on the length of their expected ROI. This reflects a minimum price reduction of nearly 70%.
How quickly would Bitmain respond? Would they gradually lower prices week after week, as Goldshell has done with many of its miners in recent months? As customers witnessed the price of the miner they had just spent thousands of dollars on being repeatedly reduced, this tactic repeatedly left them with a bad taste in their mouths.
Or would Bitmain announce that they would keep charging fairly for miners as they have been doing lately?
The consequences of a Dogecoin PoS shift would primarily affect ASIC resellers as well. Many L7 miners are suppliers, so stores holding those would need to immediately mark them down significantly. However, based on their recent history of price-gouging customers, like charging $60,000 for a KD6 that is barely worth over $1,000 today, it’s doubtful many tears would be shed for them.
Scrypt miners from numerous home mines would saturate eBay and comparable marketplaces. It would be a race to the bottom as desperate miners tried to salvage whatever value was still in the chunk of metal that can now only be used as a doorstop or display piece if one is desperate.
It would continue to mine litecoin. There wouldn’t really be a choice, so those L7s would continue to operate because they would still be somewhat profitable. If a more effective Scrypt miner isn’t already under development, it’s unlikely that a new Scrypt miner that could compete with the L7 will be released on the market anytime soon. There are some rumors that Bitmain is developing a miner that would be better than the L7.
The switch to PoS has already caused a significant amount of disruption, and we’ve only looked at one part of the cryptocurrency ecosystem. There would be a lot more issues and situations to think about.
How would that affect network security?
Would the yield from staking cause DOGE to eventually be labeled a security?
Would people embrace Dogecoin for the change or would they run away from what is currently the second-largest PoW coin by market cap?
My favorite what-if is now. Even though there are several possible outcomes for this option, it is unlikely and possibly even impossible.
What would happen if Dogecoin decided to develop its own mining algorithm instead of merging with LTC?
Innovation and Competition Are Healthy for Every Industry
What if there is a GPU mining renaissance? After the Ethereum Merge event, there’s a ton of really cheap GPUs available on the market. Those would get expensive really quickly. Mining purists would rejoice as they build their own mining rigs while trying to figure out how much DOGE they can stack. Though it wouldn’t last, it would be really cool to see. To be the first to market with an ASIC miner, the big three manufacturers Bitmain, Goldshell, and iBelink would compete fiercely.
Each of them would eventually have at least one ASIC miner available, and naturally, as time goes on, they’ll become stronger and more effective. The jumps and increases in difficulty would be ridiculous, and just like with Bitcoin
, it would eventually no longer be profitable to mine However, it could also lead to competition—something the ASIC manufacturing market desperately needs.
What if a door opens for another manufacturer or manufacturers to enter the market after the brief GPU mining renaissance? Currently, Bitmain, Goldshell and iBelink are the “big three,” and it’s really Bitmain, which has complete market dominance. Although Bitmain would probably prevail, what if someone else could be first to market, maintain that advantage, and establish themselves as a reputable and trustworthy ASIC manufacturer?
What if that business made the decision to hire additional miners and pay them fairly? To be fair, we do have to praise Bitmain once more for the pricing on its recent rollout of industry-changing miners. Reseller markups are still a problem, but that is a different subject. Perhaps this “new” competitor would adhere to the mantra that customer service actually matters. That might occur if consumers could get past their skepticism about the product’s dependability and the business produced a quality product. There are a lot of what-ifs there, no doubt.
A money-grab scenario for Dogecoin exists as an alternative. The project could go directly to Bitmain, Goldshell and iBelink and say, “We’re developing our own mining algorithm, which we’ll only give to you. How much money will you give us?”
What price would Goldshell be willing to pay to resurrect a business that has suffered numerous setbacks as a result of the most recent Bitmain altcoin miner releases? Or would iBelink fight tooth and nail to secure the manufacturing rights to the miner? IBelink recently unveiled the BM-K3 Kadena miner, which boasts 70 terahashes, a significant increase of almost 75% over the next closest model. However, the company can’t celebrate just yet because Bitmain will soon surpass that with the KA3, which will deliver 166 THs. How much would Bitmain pay to keep its market dominance if Dogecoin manufacturers made an offer?
No Change Could Be a Good Thing
What if DOGE chooses to simply continue with Scrypt mining?
The status quo is not that exciting, but it seems to be the most likely outcome. Sure, some changes might get approved by a vote, but Scrypt-based merge mining of Dogecoin and LTC is most likely to continue.
Bitmain is likely to continue pushing out L7 inventory before launching a more efficient Scrypt miner later this year AND In essence, two Mini Doge Pros in one box, Goldshell will release a Mini Doge Pro 2 for home miners. Numerous older models will probably be forced to permanently stop operating due to the impending LTC halving and the introduction of more productive miners.
The value of cryptocurrencies will increase and decrease. It’s likely that there will be another crypto scandal that no one anticipates but that, in retrospect, will be blatantly obvious. The sun will rise and set. Naturally, the majority of suppliers, particularly resellers, will continue to mark up miners and take advantage of loyal customers in any way they can.
Dogecoin’s future is impossible to predict, but the cryptocurrency sector is one of the few where anything can happen at any time.
Regardless of whether Dogecoin switches to PoS, the crypto mining landscape has always changed rapidly, and Scrypt mining is no different.
Here’s what you can do if you try to earn bitcoin on your smartphone
Usually, when it comes to mining equipment, they mean incredibly powerful computers worth several thousand dollars. But it is possible to mine cryptocurrency even on a smartphone. In this article we will tell you how to mine on your phone, and whether you should do it at all.
Let’s note right away that officially neither Google nor Apple allow mining cryptocurrency on their smartphones or (in the case of Google) on devices that run on the Android OS.
Why Apple and Google oppose mining
Apple and Google introduced a ban on mining on phones in 2018 a month apart – Apple in June and Google in August. This was due not only to the potential damage that mining apps can do to a device, but also to the large number of malicious apps that masqueraded as mining apps.
For example, AppStore rules explicitly state that apps must not “rapidly drain the battery, excessively overheat the device, or place an unnecessary burden on the device’s resources.
At the same time, both companies note that cryptocurrency mining is allowed if the process takes place not on the device, but outside of it – that is, in the cloud. For example, in Google Play, you can find applications like MinerGate Control, which allows you to monitor the mining process.
In the case of Android, you can try to search for a mining program on your phone on the Internet and then download it bypassing the app store, but there is a high probability that you will just install malicious software for yourself.
Moreover, there is a chance that after installing such an app, hackers will use the power of your phone networked with other phones to mine cryptocurrency “at your expense.”
Be careful, you can come across malware pretending to be a cloud-based cryptocurrency mining app on your phone, even in official app stores.
For example, according to Trend Micro, they found several apps on Google Play that masqueraded as apps for cloud mining on your phone. In fact, the malware offered to pay for higher mining speeds, which, of course, the user did not receive.
But even if phone mining apps weren’t banned, it’s unlikely they would make much sense now.
Smartphone for mining
In the fall of 2019, HTC introduced the Exodus 1S “crypto smartphone,” which was essentially a cryptocurrency wallet that allows you to store virtual currency on your device.
In the spring of 2020, it was announced that the Exodus 1S would have its own app for mining Monero cryptocurrency. That would be fine, but as journalists then calculated, to mine $1 worth of cryptocurrency to the device will take a year, and to recover the value of the device (about $700) – 500 years.
Of course, it may be noted here that the Exodus 1S did not have any outstanding technical characteristics. But even smartphones on one of the most powerful mobile processors at the moment Snapdragon 888 will be many times inferior in performance even not the most top-of-the-line computers.
Is it worth mining on your phone
It is important to remember that the whole point of mining is to solve a complex mathematical problem and get a reward in the form of cryptocurrency.
The more resources your device consumes to solve the problem, the bigger the reward will be if the problem is solved. Considering that even the most powerful smartphone has incommensurably less power than a top-of-the-line PC, your reward for solving the problem will be much, much less anyway.
“Mining on phones is a game for fools. It goes against everything we know about economies of scale, and is more likely to give the user false hope than to help them.
The fine structure constant is a fundamental constant in nature, and its measurement is crucial in physics. Recently, researchers at the University of Vienna have discovered a unique way to measure it. 1/137, also known as the fine structure constant, is considered to be a key number in physics. It plays an important role in atomic and particle physics.
In physics, the fine structure constant (fine structure constant), whose value is about 1/137 (in fact, the exact value of the fine structure constant is: 0.007297351+/-0.000000006, or 1/137.03599913), is the basic physical characterization of the strength of electromagnetic interactions between elementary charged particles constants.
A light source (left) sends a beam of light through a special material that changes the direction of polarization – through an angle determined by a fine structure constant.
While fine structure constants have traditionally been measured indirectly through calculations and measurements of other physical quantities, researchers at the University of Vienna have developed an experiment that allows direct measurement of fine structure constants in the form of angles.
The fine structure constant describes the strength of the electromagnetic interaction. It indicates how strongly charged particles (e.g., electrons) respond to electromagnetic fields. If the fine structure constant had a different value, our universe would look completely different – atoms would have different sizes, so all chemistry would work differently, and nuclear fusion in stars would be completely different.
A widely discussed question is whether the fine structure constant is really a constant, or whether it is possible to change its value slightly over billions of years.
“Most important physical constants have a specific unit – for example, the speed of light, which can be expressed in units of meters per second,” said Professor Andrey Pimenov from the Institute of Solid State Physics at the University of Vienna.” This is different from the fine structure constant. It has no units, it’s just a number – so it’s dimensionless.”
Usually, however, when measuring fine structures, various quantities with different physical units must be measured, and then the value of the fine structure constant is inferred from these results.” In our experiments, on the other hand, the fine structure constant itself becomes directly visible,” Andrey Pimenov said.
A laser beam is linearly polarized – the light oscillates exactly in the vertical direction. The beam is then directed at a special layer of material only a few nanometers thick, which has the property of changing the direction of polarization of light.
“There’s nothing unusual about a material rotating the polarization of a laser beam, as such. Different materials can do this; the thicker the layer of material, the more the laser’s polarization can be rotated. But we are dealing with a completely different effect here,” explains Professor Pimenov.” In our case, the polarization is not rotating continuously – it is jumping.”
When passing through the film, the light makes a quantum jump in the direction of polarization. After passing through, the light wave oscillates in a different direction than it did before. And when the size of this jump is calculated, a surprising result emerges: the quantum of this angular change is precisely the fine structure constant.
We thus have direct access to something rather unusual: a rotating quantum. The fine structure constant becomes immediately visible as an angle.
What is a mechanical camera? If we use the most common words, it is a camera that can take pictures without batteries.
Since the invention of the camera, mankind has been manufacturing mechanical cameras for a long time, and only later gradually added electronic components to the camera, and now, the camera has become an electrical appliance.
The development of mechanical cameras also went through many processes, the original human camera is no shutter, because then the light-sensitive material sensitivity is very low, need a very long exposure.
The following telescope-like contraption is the camera in 1840, to be exact, should be called photographic equipment, it is not actually considered a modern sense of the camera.
The first important organ to appear on the camera is the shutter, along with the increasing sensitivity of light-sensitive materials, the exposure time of photography continues to shorten, from hours in the past, to later tens of minutes, then to a few minutes, and then to a few seconds, 1 second, or even less than 1 second.
As a result, the most basic definition of a mechanical camera has emerged: a mechanical camera is a camera that uses a mechanically controlled shutter.
In contrast, a camera using an electronically controlled shutter is called an electronic camera, but there is also a mixture of mechanical and electronic shutter, but this shutter is mainly electronically controlled, because the machine with this shutter almost all have A-stop. However, whether electronically controlled or mechanically controlled, the work of the shutter is a mechanical process. By the digital age there was a digital shutter that did not utilize mechanical parts.
It was around 1890 that large-format double-track wooden cameras like the ones we have now became popular, and there were no complicated mechanisms on these cameras other than the shutter.
By the 1920s, 135 cameras were also introduced, and there were more mechanisms on the cameras, such as the linkage mechanism, the side axis distance measuring mechanism, and soon the more complex reflector plate rebound mechanism, etc. Before the Second World War, the variety of mechanical cameras was quite complete, and the familiar Leica cameras and Rolleiflex cameras were the products of that era, and the world’s largest camera manufacturer at that time was Zeiss. The largest camera manufacturer in the world at that time was Zeiss.
The 1950s, after the end of World War II, was the peak of mechanical cameras, and there were many brands, including dozens of imitations of the Leica L39 camera. Mechanical cameras were the norm until the advent of electronically controlled shutters in the late 1960s.
Here to add, mechanical cameras do not mean no electronic components, many mechanical cameras with metering components, but it is not in addition to metering other functions do not use electricity, in the absence of electricity can be normal focus exposure. But there is a metering system is still a lot more convenient.
Manual photography and mechanical cameras are not necessarily related, mechanical cameras are generally manual focus, manually set the aperture shutter, but there are some electronic machines are also purely manual operation. For example, Pentax 67 is a manual camera, but it is electronically controlled shutter, no electricity can not run up. Another example is BRONICA’s ETR camera, which is also manually controlled (no metering top case), but is also an electronically controlled camera, no battery shutter only an emergency gear.
You may feel strange, obviously manual exposure, why do you want to make it all electric? Here we have to start involving the advantages and disadvantages of mechanical cameras.
From the law of camera body development, electronic, automation belongs to the evolution, even the 120 camera also pursue this. Only large format cameras due to the unique form of shooting, do not emphasize this aspect.
Today we are discussing the main mechanical or 135, 120 as the main.
Mechanical cameras bear the brunt of the problem is the shutter accuracy, its shutter is controlled by the organ, so it is impossible to be completely accurate, coupled with the use of wear and tear, etc., will produce a lot of errors. And different manufacturing quality of the mechanical shutter error is also different, the error of poor quality mechanical shutter is extremely large.
Mechanical shutter is designed to allow the existence of errors, generally not faster or slower than 1/3 of a stop for each shutter, the excellent mechanical shutter (focal plane type) fully open gear is very accurate, such as the Nikon FM2 125 this gear, generally measured in the 123-126 between, but the slow door is a bit more, according to the Asahi photography test, the FM2 slow door is worse, such as 15 Speed is 13.9-14, 4 speed is 3.38-3.5, the maximum error is close to 1/3 of a stop.
In contrast, the electronic shutter is more accurate in terms of speed control. Kyocera also uses quartz components to control the shutter in order to make it more accurate.
For example, the Pentax LX is a hybrid shutter, with full open speed (60) and below being electronically controlled and above being mechanical. Its electronic control part is amazingly accurate, for example, the 15 gear, measured 15.2, the 4 gear is 3.97, the error is extremely small. But his fully open mechanical shutter this gear has a certain error.
People may think Nikon FM2 difference is not much ah, we often shoot film 1,2 stops are no problem. That is because first of all this is a new FM2, if combined with later wear and tear, use, etc., the error will further increase, especially if not regularly maintained. In addition, the FM2 is using a very advanced steel longitudinal shutter, stability far beyond the old horizontal shutter, which is very accurate.
The second problem with mechanical cameras lies in the type of failure they have: mechanical failure.
Any mechanical part of a mechanical camera can have problems, that is, mechanical failures. Many people think that mechanical cameras can be used for a long time and are very durable, in fact, most mechanical cameras are very old and have been very fragile and have a high failure rate.
Many friends think that mechanical cameras are not afraid of bad, bad can be repaired, which is almost purely imagined, in fact, like the Loco double reverse in addition to failure, can be repaired by few people, not to mention those old mechanical cameras.
Even if you can repair, it is often bad repair. Camera mechanical parts are precision parts, high requirements for accuracy, but the lack of standardization, different parts, different machines, many cameras have no original guidance, the original factory has long since closed down, so we are also based on experience to repair.
Even if the Leica, Hasselblad, like not yet closed, many repair camera is also the wild way, their own fumbling, lack of parts, lack of calibration standards, repair is very common. You may want to search the Internet to repair Leica Hasselblad, repair bad, cursing post very much. If the official? That not only the cost is amazing, but also have to wait a long time, such as Leica’s repair are to send back to Germany.
Because there is no experience, of course, to put it very lightly, you just mechanical camera is broken once, you will understand how bad it is to repair a mechanical camera, you will want to tell you that the mechanical constant people’s head stuffed into gear.
Electronic machine repair is not good we have psychological preparation, and mechanical machine also repair is not good many people have little psychological preparation, but others still say eternal …… eternal your grandmother eternal.
In mechanical cameras, at present only Leica and Hasselblad repair can basically guarantee, the other cameras can only be left to chance.
However, Leica Hasselblad is not the big head, the use of mechanical SLR is the real big head, these cameras are really a variety of failures. For example, over the film gear broke, over the film is not average, and for example, the shutter blade card, full open can not be, etc. …… The problem is that these machines are no less difficult to repair than Leica, but the charge is not possible and Leica, so many masters will not be willing to repair, or repair up very little heart.
FM2 what is still considered expensive, you if 500 Pentax SP is broken, you will want to buy another, there is no constant.
After the repair, the following problem is the maintenance.
Can be maintained is the biggest advantage of mechanical cameras, electronic machines do not have maintenance of such a statement, the aging of electronic components damage is basically irreversible, maintenance is also relatively violent, where the bad change where. Mechanical cameras can be maintained, so you can use a long time.
But the problem is that many people do not have a sense of maintenance, do not know the mechanical machine to maintain to be durable. Many cameras bought back on so little price, maintenance feel very unworthy, it is better to buy another one. You Patek Philippe, Vacheron Constantin must be maintained, now you take a piece of SWATCH to maintenance, I am the maintenance master I do not want to care about you.
So I can give you a basic reference, like FM2, OM1 such cameras are not what mechanical when the eternal argument, on the one hand, they are difficult to maintain, on the other hand, it is difficult to repair.
Leica M, Hasselblad V, Locus dual-reflex such expensive, famous cameras can be considered mechanical when eternal, provided that you can find reliable maintenance and repair. Some maintenance let me also very speechless, for example, I saw a family online said, basic maintenance, do not remove the body. Do not remove the body you maintain a ghost ah!
Mechanical cameras also have a huge advantage, is not afraid to run out of power. Compared to shooting half of the camera suddenly burst, shooting half of the sudden loss of power to be a little more common, after all, the commonly used kind of LR44 battery in the face of significantly increased power consumption of the old electronic machine, really can not stand much volume. My experience is that the Nikon F3 about 20 – 30 volumes, like my LX aging is more serious, shoot 10 volumes to change the battery. Of course, there are types of batteries, a better button battery can last a little longer.
Electronic machine to shoot half out of power, you really call the ancestors are useless, if the city street photography, find a convenience store can also save, but you have to climb a mountain, down to the sea or something, that can only pull out the phone.
Mechanical cameras are not afraid, no power as usual. Some friends say, metering is gone, how to do ah! The phone down a metering App on the line, to cope with a photo enough.
Mechanical equals good quality, durability, mechanical equals eternal, are misconceptions. Phoenix 205 camera is still purely mechanical, and Leica M3 can be the same thing?
Mechanical is not equal to eternal, people think mechanical eternal because we think deep down that mechanical is something simple, is some organ parts, can be repaired, while the electronic chip is something complex, are microscopic level things, broken no way to repair.
My advice to novice photographers is manual, mechanical or mechanical does not matter. Manual photography can develop our basic photography skills and help to better understand the various photographic techniques, but you are not mechanical camera actually does not matter.
In addition, I suggest that if you really want to feel the charm of mechanical, mechanical precision, but also to buy good quality mechanical cameras, not for mechanical and mechanical. Rolex mechanical, SWATCH also has mechanical, but not at all a concept. You like cars, you should play a good car, you like watches, you should play a good watch, the same way, you like mechanical cameras, you should play a good mechanical camera, and it is certainly much cheaper than cars and watches.
Bitcoin miners start the year amid uncertainty generated by the prolonged market winter.
NotiHash is the Bitcoin mining newsletter of CryptoNews. It is published on our website every week. Today’s Thursday, January 5, 2023 is issue number 42, published at block height 770,510.
Earning profitability will be the biggest challenge for Bitcoin miners during 2023. At least for the duration of the bear market, which is already nearing its one-year anniversary.
The prolonged market winter has left numerous casualties, and changed the Bitcoin mining landscape considerably.
The balance of this first week of 2023 involves board changes of major companies, surprising court actions and movements related to the mining of other cryptocurrencies.
Difficulty adjustment and hashrate growth
Average hashrate: 254 EH/s (week) Maximum reached hashrate: 275 EH/s (week) Difficulty level: 35.36 billion (trillions) A few days after the most recent Bitcoin difficulty adjustment, we can observe that once again the hashrate oscillates with intensity, this time with an increase that approached its historical records. During the last few weeks, the computational capacity of the network has experienced peaks of more than 50 EH/S difference between its minimum and maximum levels.
The network difficulty level fell back 3.89%, along with a decrease in the network hashrate over that time period. If the network hashrate remains at the current level, the next difficulty setting is estimated to increase 10%.
The rewards of Bitcoin mining
Range of miners’ daily profit: between USD 14.5 million and USD 18.4 million (week) Total rewards for Bitcoin miners: 914.16 BTC or USD 15.4 million (average of 144 blocks between Dec. 29 and Jan. 5) Average rewards per transaction: 0.0034701 or USD 58.32 (average of 144 blocks between Dec 29 and Jan 5) Reward paid per transaction: 0.00000538 BTC or USD 0.90 (average of 144 blocks between Dec. 29 and Jan. 5) Source: Mempool.space and Braiins
Total rewards received by Bitcoin miners increased at the beginning of 2023, compared to the last week of last year. When expressed in US dollars, that change equates to USD 2 million per day. The price of bitcoin (BTC) is at the figure of USD 16.8 thousand, therefore, the gains are reflected if estimated in dollars (USD).
From the Bitcoin users’ point of view, commissions have been kept at a rate of 500 satoshis. This represents payments below $1 (USD) on average. The low commissions in terms of BTC have not affected miners’ rewards, precisely because of the rising price of the currency. On average, each block includes a commission profit of 0.110 BTC.
The hasprice and hashvalue of Bitcoin
Hashprice: 0.063 USD/TH/day Hashvalue: 375 sat/TH/day The hashprice remains above 0.060 USD/TH/day, a trend that has persisted since October 2021. The rebound in bitcoin price since the beginning of January affects this value positively.
The hashprice is a measure of profitability used by bitcoin miners. It is understood as a value assigned to a unit of computation. It is expressed as the profit in dollars (USD) for each terahash that specialized mining equipment contributes to the network in the period of one day.
For its part, the hashvalue is a value obtained when the same calculation is made on the basis of bitcoin (BTC) earnings. This parameter is also used to calculate profitability, especially in the long term.
In this regard, current hashprice and hashvalue values express that Bitcoin miners’ earnings remain well below expectations.
