During the week, information related to Bitcoin mining was not lacking. Don’t miss this summary of the highlights.
The crypto coin mining business, led by Bitcoin, lived a week of important events. As the price of the pioneering digital currency recovers from the recent correction, news in this area continues to be the main protagonist in the main portals.
On this occasion, we present you our usual weekly summary, where you can find out the most important things about mining. Although there is a lot of information, we try to make a selection of the five most outstanding ones from the last seven days.
It is important to note that, among the most important news, we highlight the fact that the decentralization of mining continues. Some analysts, in a work published by CoinDesk, assure that the U.S. is not looking to take away China’s dominance in hashrate, but to diversify it around the world.
A week of important events for Bitcoin mining
The mining of Bitcoin and other important cryptomonies, presented a week of important events. These are the most important news:
Bitcoin Mining continues to gain ground in the U.S. and Canada.
Ethereum Classic operated hard-fork to restore GPU mining.
Consequences of the ASIC supply crisis.
Miners‘ income remains at pre-Halving levels.
Increased Bitcoin network difficulty is the fourth highest ever.
Miners want to leave China
The decentralization of Bitcoin mining from China to other parts of the world continues to be a source of news week after week. More and more companies are leaving the Asian country in a climate of tension with the authorities.
The destination of most of these farms is the United States and Canada. These countries are among the favorites due to the security climate they provide to businesses, as well as the opportunity to access large sources of financing through the stock market.
The most recent analysis related to this was published by the CoinDesk portal. According to the website, the ongoing decentralization movement is expected not to strip China of its importance and give the United States dominance in mining, but to bring about diversification.
Ethereum Classic to be mined again on 4GB GPUs
Another important news this week in mining, this time not from Bitcoin, but from Ethereum Classic (ETC). According to information from CoinTelegraph, the project suffered a hard bifurcation.
The goal of this action is to enable the 4-gigabyte GPU cards of VRAM to stay active in mining. At the same time, it is intended to discourage the incorporation of ASIC equipment to avoid a centralization similar to that which occurs with Bitcoin mining.
In this way, the hard-fork Thanos, was applied at the height of the block 11,700,000 of the network of that digital currency. It will technically reverse the epoch parameter for the Ethereum Classic mining algorithm, Ethash.
ASIC supply crisis
According to the discussions at the 2020 Mining and Investment Summit, there is a crisis in the distribution of Bitcoin mining equipment. The voracity of large Western companies like Marathon or Core Scientific, who already have orders for S19 for July 2021, has created a supply crisis.
It’s a ruthless race for Bitcoin stockpiling, which is causing as much hash as possible to be hoarded. In this way, the computing power for sale is quickly acquired by the mining giants, which raises the prices of the machines.
The miners are resorting to second-hand equipment to try to stay in the fight. The current trend, however, could lead to a greater centralization of operations and the departure of small and medium-sized miners from the game, experts said.
Will the miners make Bitcoin take off for the moon?
Miners‘ income remains high
The equivalent amount in US dollars that participants in Bitcoin’s mining business receive remains high. The recent drop in the price didn’t take the daily income far from the pre-Halving levels of May that had been reached in recent days.
At the time of writing, the price of the most popular of the crypto currencies is once again heading towards USD 19,000. All of this seems to indicate that the miners‘ income will continue for a while longer in amounts similar to those of today, since a collapse of the cryptomoney seems unlikely.
The latest report from the portal Blockchain.com, shows that the income closed last November 27th at 17.6 million USD. On November 17, the amount for the minimum activity of the