Bitcoin's power and difficulty are rising, and high-coin prices are rising, attracting new influx

On September 16, Bitcoin's computing power and difficulty reached new highs. According to external sources, it was mainly due to the launch of more than 600,000 new mining machines in the past three months. According to the data printed on the currency, the average power of Bitcoin in the past week has exceeded another important threshold, reaching 91.03 EH/s. At the same time, the difficulty of mining has also been adjusted to a new record of nearly 12 T. BTC.com data shows that since June 14 this year, Bitcoin's computing power and difficulty have jumped 60%.

BTC.com

Bitcoin's total network computing power has once again broken through its historical peak in October 2018, once surpassing 66EH/s, creating a new high, with a maximum single-day computing power of 95 EH/s. According to Bitinfocharts data, as of press time, BTC's total network computing power reached 89.89 EH/s.

Assume that the new 35 EH/s calculations since mid-June are all from the new ASIC mining machines that will be launched this summer. The average calculation power of these mines is about 55 TH/s ((1 EH/s =1,000,000 TH/s) Rough calculations show that more than 500,000 such mines have been connected to the Bitcoin network. These mines are mainly produced and sold by manufacturers such as Bitland, Jianan Zhizhi, InnoSilicon and MicroBT. Machine prices range from $1,500 to $2,500. If more than 500,000 units are delivered as estimated above, these miners may have revenues of $1 billion over the past three months.

Corresponding to the increase in computing power, the difficulty of bitcoin mining is also climbing. After the latest difficulty adjustment, the difficulty of bitcoin mining has reached 11.89 T, which has exceeded the historical peak of 7.454T last year, which is higher than last year's highest value. 37%. In addition, according to BTC.com data, there are still 10 days from the next difficulty adjustment. It is expected that the difficulty of mining will increase by 10.94%, or it will enter the 13T mark for the first time, reaching 13.19T.

According to the TokenInsight report, more miners are expected to enter the market in the coming months. With the sharp rise in bitcoin prices, the mining machine market experienced a significant shortage in the second quarter of 2019. Most of the miners produced by different manufacturers are seriously out of stock, and pre-orders submitted in the second and third quarters will be delivered before the end of this year.

In an interview with Coindesk, Steven Mosher, global sales and marketing director of Jianan Zhizhi, said that the surge in bitcoin prices has led to high demand for mining machines and supply shortages. “This seems to be returning to the third quarter of 2017 and fourth. In the quarter, demand is three times the supply."

On September 9, Bitland's latest S17e model mining machine was pre-sold. According to the official website of Ant Mining Machine, the S17e model mining machine was sold out within 1 minute. The ant mining machine, including the newly released S256 SE (16T) and S9k (13.5T), has been sold out, and the ants S17 (53T) and T17 (40T) are delivered in September this year. Order delivery for Shenma miners M20s (68T) and M21s (56T) was scheduled for November. However, some mine owners told the media that at present, the mines in the mines are mostly S9 model mines of the ants, and there is currently no plan for the mines to be replaced by S17 on a large scale. Some mining companies may press to raise prices.

Some professionals said: "As long as the bitcoin price is high enough, there will continue to be a new influx of power." In addition to the capacity of the new mining machine, the second-hand mining machine market is also facing a situation of short supply. As the price of the currency rises, many of the miners that have been eliminated before may debut again, and the demand will also increase.

Source: Financial Network · Chain Finance

Author: LornaQ