🔺 What to do when markets are at an all-time high? Find smart bargains, like these.See Undervalued Stocks

Bitcoin (BTC) Holds onto Mining Crown, Hashrate Sets New Record

Published 08/13/2018, 05:29 AM
Updated 08/13/2018, 06:40 AM
 Bitcoin (BTC) Holds onto Mining Crown, Hashrate Sets New Record
BTC/USD
-
LTC/USD
-

Bitcoin (BTC) saw mining rates hit a record of over 55 million TH/s, later retreating but still standing high at 52 million TH/s. The climb to peak rates follows a dip in mining, which took away around 20% of hashing power, albeit temporarily.

The hashrate for the Bitcoin network has been growing regardless of the sliding price, which fell once again toward the $6,300 level. Some of the reasons include new shipments of the Antminer rigs, which are now more efficient and have a higher hashrate. The curious thing is that despite the impressive hashrate increases, the energy use of Bitcoin has leveled out, as seen on the specialized index.

The rush to mine Bitcoin also underlines the fact that it is hard to find quality coins to mine. Mining for altcoins has declined, including Scrypt mining for Litecoin, which has lost 30% of its hashing power in the past three months.

Mining for leading ...


This article appeared first on Cryptovest

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.