The pioneering cryptomoney mining, Bitcoin, generated interesting news this week and, in this work, a selection of the five most important ones is presented.
It should be noted that not all the information refers to the extraction of the main cryptomoney, but to others such as ETH.
Among the main protagonists of this news week, the companies dedicated to mining were highlighted. Specifically the North American companies Marathon and Riot Blockchain, which maintain a strong competition for hegemony in this field.
Likewise, other topics highlighted were the end of the rainy season in China. The end of that season caused a significant migration of miners in some provinces of the Asian country, where the highest percentage of Bitcoin Profit total hash power is concentrated.
This is the selection of the 5 Bitcoin mining news of the week
The news about the Bitcoin mining business and other currencies, were varied, in this selection, the 5 most prominent are presented.
Riot Blockchain and Marathon fight for the gold medal in mining in America
Bitcoin hash rate falls after the end of the rainy season in China
Bitcoin’s average commission rate increases 573% in 13 days
Jailed for mining ETH with an airport’s computer systems.
New York regulators ask Bitcoin mining firms to avoid environmental damage.
Fight for first place
At the beginning of the week, it became known that the company dedicated to the mining of Bitcoin, Marathon, had made a new massive purchase. In a statement, the company’s management announced that they had acquired about 10,000 new S-19 pro.
This is a massive purchase equivalent to the one made last August to Bitmain. On that occasion, 10,500 units of the latest generation were purchased, valued at $23 million.
In this way, the competition for supremacy in Bitcoin mining in America, is sharpened between Marathon, Riot Blockchain and Core Scientific. By 2021, all the mining capacity from these purchases will be installed by these American firms.
End of rainy season in China affects Bitcoin hash rate
After the end of the winter season in China, the Sichuan province began to experience an intense migration of miners. This is one of the highlights of this selection of information on Bitcoin mining.
It affected the hash rate of the main cryptomone, this is because, in those times, the electrical costs in Sichuan go down. Attracted by this, miners from many places in China settle in this region to take advantage of the surplus of hydroelectric energy.
However, at the end of the season, prices rise again and the miners return to their places of origin. Disconnections reach significant limits and cause the total computing power of the most important of the cryptom currencies to plummet, as can be seen in the graphs.
The fall of Bitcoin’s hash rate is one of the highlights of this selection of digital mining news. Source: Blockchain.comThe fall of the Bitcoin hash rate is one of the most outstanding information in this selection of news about digital mining. Source: Blockchain.com Blockchain.com
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Bitcoin Transaction Rates Rising
Although the profits from the rise in the price of the queen crypt coins were outstanding, the increase in rates, came to tarnish everything. Now, Bitcoin’s miners, in the last 13 days, have had to pay 128% more in transaction fees.
This is the highest rate increase since June 2018. According to the analysis portal Glassnode, accounted for in USD, the rates average $11.66. At the moment, Bitcoin’s Blockchain network is in the biggest bottleneck of the last three years.
When there’s a lot of traffic on the Bitcoin Blockchain network, the speed of transactions decreases considerably. In response, the miners increase the payment for transactions in order to have priority, which increases the average amount of transactions.
Bitcoin Mining in Iran Has New Buyer
An Italian goes to jail for mining where he shouldn’t
Another highlight of the week in terms of mining, this time not from Bitcoin but from ETH, was the imprisonment of a miner. The event took place in Italy, where an individual was accused of mining the digital currency of Ethereum, using the computer systems of an airport.