Got some Satoshi to send or Bitcoin (BTC) wallets to reorganize? It’s increasingly cheap to do so. According to an Arcane Research report, Bitcoin “transaction fees have stayed low since July 2021, showing no signs of rising.” There was, however, a small bump in transaction fees last week. Shown as a small jump at the tail end of the graph, clustering of the mempool pushed “up the average transaction fees per day over the past seven days to $691,000, a doubling since last Tuesday.” Nonetheless, the doubling in transaction fees is insignificant: transaction fees remained in a low range. Miners …

For the first time since November 2021, the Bitcoin (BTC) mining difficulty adjustment has dropped, correcting 1.49%. The move follows a succession of 6 consecutive positive difficulty adjustments, in which the mining difficulty and hash rate hit all-time highs. The average hashrate over the past two weeks fell to 197.19 exahashes per second (EH/s), and the average block time exceeded the 10-minute target, at 10 minutes 09 seconds. As a result of the difficulty adjustment, miners competing to solve the next valid block find it marginally easier. The difficulty adjustment is one of the Bitcoin protocol’s most prominent features. Every …

The Kazakh Ministry of Energy announced that it has discovered and terminated 13 cryptocurrency mining operations. The government executed the shutdown as part of its efforts to regulate the Bitcoin (BTC) mining sector, which has grown increasingly popular in recent years. As per the official statement, the miners were using a lot of energy, with a total power consumption of 202 megawatts. According to the Kazakhstan government, efforts to identify and disconnect mining farms from the electrical networks will continue. Following the discovery of illicit mining operations, authorized bodies will take operational and investigatory actions. As the planet's second-largest Bitcoin …

Kazakhstan, one of the world’s top Bitcoin (BTC) mining locations, is likely to lose its BTC hash rate share leadership in the next hash rate distribution update, according to industry experts. According to Cambridge Bitcoin Electricity Consumption Index (CBECI), Kazakhstan was housing over 18% of the world’s BTC hash rate as of August 2021, following only the United States. Kazakhstan’s BTC mining power increase was partly driven by the massive Chinese miners’ exodus triggered by China’s cryptocurrency crackdown. Prior to falling to zero as of August 2021, China’s BTC hash rate power accounted for more than 75% back in 2019. …

The Bitcoin network has hit yet another all-time high in mining difficulty after a steady climb since last July’s lows. On-chain analysis tool CoinWarz indicated on Feb. 18 that mining difficulty reached a new high of 27.97 trillion hashes (T). This is now the second time in three weeks that Bitcoin (BTC) has hit a new ATH in terms of difficulty. On Jan. 23, difficulty reached 26.7 T when hash rates were at 190.71 EH/s (exahashes per second). Higher difficulty means there is more competition among miners to confirm a block and extract a block reward. As a result, miners …

The Bitcoin (BTC) network has recorded a new hash rate all-time high of 248.11M TH/s as of Feb. 12, 2022, further securing the decentralized ecosystem through a growing network of global BTC miners. The hash rate correlates to the computing power required by a miner’s computer equipment to confirm a transaction. The recent spike in BTC’s network hash rate ensures further security against attacks by deterring bad actors from confirming fraudulent transactions. As evidenced by the above screenshot, the network hash rate jumped 31.69% — from 188.40 EH/s to 248.11 EH/s — in just one day. Moreover, the Bitcoin network’s …

Welcome to the latest edition of Cointelegraph’s decentralized finance newsletter. It’s been a tumultuous week of doxxing, hacks, bailouts and new highs in the decentralized finance space. Read on to recap the most impactful stories of the last seven days. This article represents a conspectus of the full email newsletter. For the full edition, sign up via the box below. Wonderland lost in no mans amid Sifu saga Following the revelatory identification of previously anonymous QuadrigaCX co-founder Michael Patryn as the founder of DeFi protocol Wonderland — known on social media as @0xSifu — a subsequent community vote decided upon …

Bitcoin (BTC) seems to be on everyone’s mind lately as the world recently witnessed the price of BTC take a rather unexpected bearish turn this month. On January 21, 2022, Bitcoin reached six-month lows, sinking below $40,000 for the first time in months. While some panicked, other industry experts pointed out that the Bitcoin network has become verifiably stronger than ever before. The growth of the Bitcoin network has become apparent, as hash rate figures for BTC continue to set new highs this month. For example, on Jan. 22, the BTC network recorded an all-time high of 26.643 trillion with …

Over the previous year, Ether (ETH) has increased in value to the point that it significantly outperformed Bitcoin (BTC) in terms of returns. The rise of Ethereum has made mining on its network more lucrative over time. This appears to have resulted in additional miners, resulting in an expansion of the network's hash rate. The hash rate for Ethereum has hit a new high, approaching record levels of 1.11 PH/s according to data from Glassnodes on Jan. 27. The previous ATH was reached previously on Jan. 13, when the ETH price fell from $4,460 to $3,160. When the hash rate …

The Bitcoin network difficulty is determined by the overall computational power, which co-relates to the difficulty in confirming transactions and mining BTC. As evidenced by the blockchain.com data, the network difficulty saw a downfall between May and July 2021 due to various reasons including a blanket ban on crypto mining from China. The Bitcoin (BTC) network has recorded a new all-time high mining difficulty of 26.643 trillion with an average hash rate of 190.71 exahash per second (EH/s) — signaling strong community support despite an ongoing bear market. However, as the displaced miners resumed operations from other countries, the network …

The Bitcoin (BTC) mining business is bigger than ever at current price levels, and new data shows just how unlikely a mass miner sell-off really is. As noted by popular Twitter account @venturefounder on Jan. 14, even at $42,000, the BTC/USD trading pair is around 20% above miners' cost price. Miner capitulation behind "worst" BTC price dips Despite falling a full $27,000 below all-time highs, BTC is more enticing than ever for miners. Hash rate, an estimate of the total processing power dedicated to mining, reached new all-time highs this week. Those concerned that a fresh BTC price dip could …

Bitcoin (BTC) hash rate has returned to all-time highs despite losing a key hash rate contributor. Meanwhile, amid lackluster price action, Block CEO Jack Dorsey confirmed the creation of an open Bitcoin mining system. The BTC space continues to surprise and bewilder critics and fanatics alike. Kazakhstan, the network's second most important BTC mining country, experienced an internet blackout last week due to civil unrest. However, the hash rate faltered no more than 13.4% before regathering to reach all-time highs. As shown in the below data from Glassnode, with the price checking into the $42,000 range yesterday, the mean hash …