The third Bitcoin (BTC) halving has settled, and the Bitcoin network has just experienced its first difficulty adjustment post third halving. The difficulty has decreased from 16.1 trillion to 15.14 trillion, which is about a 6% downward adjustment, providing miners who have survived so far with some relief. Bitcoin network hash rate experienced a significant decline post-halving It is important to recognize that the network hash rate cannot be directly observed; rather, it needs to be calculated from the average block production time and the difficulty level. Based on the average block time analysis, the Bitcoin network has experienced a …
The cryptocurrency industry has just experienced the most anticipated event, Bitcoin’s (BTC) third halving. The last 12.5 Bitcoin block was mined by F2Pool and encoded the message: “NYTimes 09/Apr/2020 With $2.3T Injection, Fed’s Plan Far Exceeds 2008 Rescue,” paying tribute to Satoshi Nakamoto, the token’s creator. Antpool was in luck, mining the first 6.25 Bitcoin block. The first Bitcoin halving happened in Nov. 2012 and was mined by Slushpool, while the second having happened in July 2016 and was mined by F2Pool. The post-halving will still see a positive adjustment The market experienced some volatility during the last 60 blocks …
About 37% of the cryptocurrency community expects Bitcoin’s (BTC) hashrate to be higher one month after the block reward halving than it currently is, according to a recent poll. Cryptocurrency portfolio tracking application, Blockfolio, polled its users on April 27. They asked whether they believe Bitcoin’s hash rate will be higher or lower one month after the halving. The community has a positive outlook Blockfolio’s question was answered by over 8,000 users. Among the respondents, 37% believed that the hashrate would be higher, 29% that it would be lower, and 17% that it would be the same. The remaining 17% …
A New York power plant turns to Bitcoin mining in a successful bid to increase profitability. Bloomberg reported on Mar. 5 that a power plant in New York’s Finger Lakes region now mines about $50,000 of Bitcoin (BTC) each day using the electricity it produces. Atlas Holding, the private equity company that owns the facility, installed 7,000 crypto mining machines at the Greenidge Generation’s 65,000-square-foot power plant in Dresden, New York. The firm pointed out that since it produces the power consumed by the machines on its own, the mining operation is extremely low cost. An extremely profitable operation Cryptocurrency …
Bitcoin (BTC) NFTs will have a positive impact on Bitcoin ecosystem by improving its security and incentivizing developers to build on the network, according to independent developer Udi Wertheimer. The number of newly created Ordinals, also referred to as "inscriptions", have been spiking in recent weeks, causing a surge in transaction fees and average block size on the Bitcoin blockchain. According to Wertheimer, Bitcoin NFTs are going to be beneficial for Bitcoin's security budget: by driving up transaction fees, the creation of Ordinals will incentivize miners to secure the network while the revenue from mining reward will be decreasing with …