Bitcoin's Hash Rate and Mining Difficulty Jump 60 Percent Since June

Libra Coin News
Mon, 09/16/2019 - 07:19
Alex Dovbnya
Bitcoin's mining difficulty and hash rate continue their incremental growth with about 600,000 new ASIC miners stepping into the fray
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According to data provided mining pool, Bitcoin’s mining difficulty has reached a staggering 11.89 trillion. Meanwhile, the coin’s hash rate has increased to nearly 90 EH/s.

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The two metrics, which are imperative for determining the current state of the industry, have spiked by more than 60 percent since July.

Coindesk’s Wolfie Zhao has estimated that around 600,000 ASIC miners have joined the Bitcoin network since mid-June. That essentially proves that Bitcoin mining is alive and kicking.

As reported by U.Today, even older miners, such as Antminer S9, are still able to turn a profit for their owners at current BTC prices. Bitmain recently released two super-powerful models, the first batch of which will be delivered in November.

Earlier, Bitcoin evangelist Max Keiser predicted that the Bitcoin price would follow the network’s hash rate.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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