What curtailment? Bitcoin hashrate crosses 400EH/s
It crossed the 300 EH/s threshold only six months ago
After the transaction fee surge in May, bitcoin’s daily production benchmark again declined to a new low below 2.6 BTC/EH/s in June. In addition, the heatwave in Texas led to some power curtailment activities that resulted in several mining operations experiencing a production decline that was worse than the benchmark drop.
Indeed, the largest public mining operations by production like Core Scientific, Marathon, Riot and CleanSpark all experienced a decline in their hashrate realization rate in June, according to TheMinerMag’s data dashboard.
However, despite such curtailment, bitcoin’s hashrate keeps setting all-time highs. TheMinerMag’s analysis of additional miner import records from April to June shows that the average hashrate in July could be close to 400 EH/s, although it does not factor in the impact of possible curtailments in North America later this month.
As of writing, bitcoin’s 3-day and 7-day average hashrate was 424 and 402 EH/s, respectively. It’d be interesting to see if the 14-day average can cross 400 EH/s anytime soon because it crossed the 300 EH/s threshold only six months ago.
Regulation news
BC Hydro, Conifex at odds over crypto mine power usage - Business in Vancouver
Hardware & Infrastructure News
Bitfarms Starts Production at Baie-Comeau and Increases Hashrate Target to 6.3 EH/s in Q3 2023 - Link
Mawson Secures New Mining Site in Bellefonte - Link
Bitcoin Hash Rate Hits New All-Time High Amid Stagnating Prices - Decrypt
Feature
Bitcoin Mining Is a Game of Survival, Consolidation and Potential AI Diversification: Bernstein - CoinDesk
How Bitcoin’s Next Halving Will Affect Struggling Crypto Miners - Bloomberg
Are you a journalist or analyst seeking more information or comments from industry experts? We’d love to help!