Bitcoin (BTC) support at the $30,000 level has proven to be quite resilient amid the turmoil of the past two weeks, with many tokens in the top 100 now showing signs of consolidation after prices bounced off their recent lows. During high volatility and sell-offs, it’s difficult to take a contrarian view, and traders might consider putting some distance from all the noise and negative news flow to focus on their core convictions and reason for originally investing in Bitcoin. Several data points suggest that Bitcoin could be approaching a bottom which is expected to be followed by a lengthy …

The Chinese government has not managed to take down cryptocurrency operations as part of its crypto ban last year as China has re-emerged as one of the world’s largest Bitcoin (BTC) mining hubs, according to a new report. China became the second-largest Bitcoin hash rate provider as of January 2022, months after the local government banned all crypto operations in the country, according to the latest update from the Cambridge Bitcoin Electricity Consumption Index (CBECI) shared with Cointelegraph on Tuesday. Bitcoin miners in China accounted for 21.1% of the total global BTC mining hash rate distribution as of early 2022, …

Further distancing itself from any concerns of planned attacks on the blockchain, the Bitcoin network established a new mining difficulty all-time high of 31.251 trillion — exceeding the 30-trillion mark for the first time in history. The creator of Bitcoin (BTC), Satoshi Nakamoto, warranted the security of the BTC network through a decentralized network of BTC miners who are tasked with confirming the legitimacy of transactions and minting new blocks. Given the extensive community support — from developers to hodlers to traders to miners — that spans over 13 years, the BTC network was witness to a historic 10-month-long rally …

Bitcoin (BTC) marks a milestone mining journey on Thursday, crossing the halfway point on the way to its next halving. In Block number 735,000, mined at approximately 10:29 am UTC, Bitcoin crossed the halfway point to the next halving. The block was mined by Poolin, earning 0.16215354 BTC ($6,402.45) in fees. Halvings occur every 210,00 blocks, and May 5 marks the cross-over point into the second leg of 105,000 blocks. For some Bitcoiners, such as Samson Mow, the Bitcoiner pioneering Bitcoin nation-state adoption, the halving is a reminder to stack more SATs: WE ARE HALFWAY TO THE NEXT HALVING AND …

Reassuring its position as the most resilient blockchain network against attacks, the Bitcoin network recorded a new all-time high network difficulty for the second time this month in April — jumping from its previous all-time high of 28.587 trillion to 29.794 trillion. Greater network difficulty demands greater computational power to successfully mine a Bitcoin (BTC) block, which prevents bad actors from taking over the network and manipulating transactions, also known as double-spending. As evidenced by data from Blockchain.com, Bitcoin’s network difficulty has seen almost a year-long uptrend since August 1, 2021. Before that, between May and July 2021, was a …

The hash rate of the Bitcoin (BTC) network hit a new ATH, even when the price of the top cryptocurrency struggled to get past the $40,000 mark. The network's hash rate hit a new record high of 258 EH/s on Thursday before settling around the 220 EH/s mark. The recent rise in the BTC network hash rate signifies the growing number of miners on the blockchain. The Bitcoin network hash rate has grown more than 400% since the Chinese crypto mining ban last year when it fell below 70 EH/s. The Bitcoin network managed to recover from the significant hash …

A recent report has shown that nearly one-fifth of the total share of Bitcoin’s hash rate now belongs to publicly-listed mining companies. The report, published by Arcane Research, details that publicly-listed Bitcoin (BTC) mining companies now account for 19% of Bitcoin’s total hash rate, growing considerably from a mere 3% in Jan. last year. The term hash rate refers to the total computing power used by a miner’s computing equipment to confirm a transaction. A higher hash rate ensures increased protection against double-spending attacks, which is the process of reversing BTC transactions over the blockchain by contributing to at least …

On Monday, semiconductor manufacturing titan Intel unveiled its new Bitcoin (BTC) mining chip, Blockscale. The application-specific integrated circuit, or ASIC, hardware is designed to operate on proof-of-work blockchains using SHA-256 encryption. As told by Intel, Blockscale will have a hash rate of up to 580 gigahash per second (or 0.58 terahash per second, TH/s), consuming between 4.8 to 22.7 watts of power, and having an energy efficiency of up to 26 joules per terahash (J/TH). Each chip can be combined and merged into a single mining unit, increasing its output with a maximum of 256 integrated circuits per chain. Blockscale …

Just when the Bitcoin (BTC) miners helped release the 19th millionth BTC in circulation on Friday, the BTC network’s mining difficulty reciprocated by reaching an all-time high of 28.587 trillion. Bitcoin’s network difficulty correlates to the computational power required to mine BTC blocks, which currently demands an estimated hash rate of 201.84 exahash per second (EH/s), according to data from Blockchain.com. Supporting the spike in the network difficulty, Bitcoin’s hash rate maintained a stronghold throughout the year while breaking into an all-time high of 248.11 EH/s on Feb. 13. A higher hash rate ensures resilience against double-spending attacks, which is …

U.S. Bitcoin mining firm Core Scientific has posted bullish 2021 fiscal year results compared to the year prior, with its revenue increasing by 803% to $544.5 million and gross profit growing 2,443% to $238.9 million. The major BTC miner highlighted growth in hash rate, mining equipment sales, hosting revenue, digital asset mining income as key reasons for the improved performance. The booming price of Bitcoin (BTC) no doubt also played a part. The results were announced on March 29 and show a total net income (take-home after expenses) totaling $47.3 million last year. The figure marks a drastic increase from …

Bitcoin (BTC) set a new all-time high for hash rate last week, but opinions are divided as to whether the uptrend can continue. In a Twitter debate on March 21, Preston Pysh, host of The Investor‘s Podcast, eyed changing behavior in Bitcoin‘s hash ribbons metric for signs of a new hash rate “lull.” Questions over “lull” in hash rate after record highs Bitcoin has overcome considerable odds over the past year to see the processing power dedicated to mining — hash rate — reach a giant 222 exahashes per second (EH/s) this month, according to estimates from monitoring resource MiningPoolStats. …

Bitcoin (BTC) miners are holding more and more Bitcoin while “relentlessly expanding” their operations in 2022. A report by Arcane Research indicates that publicly listed Bitcoin miners are “constantly looking for expansion opportunities,” as they “plan to increase hashrate faster than the whole network in 2022.” 44.95% of the global hash rate derives from North American miners, according to the latest figures from the Cambridge Bitcoin electricity consumption index. With the massive projected increases in target hash rate among the publicly traded Bitcoin miners, it's "likely to increase." Jaran Mellerud, an analyst for Arcane Research, told Cointelegraph that “most publicly …