Bitcoin’s Hashrate Taps New Lifetime High, BTC Price 20% Above Production Cost, Difficulty Nears ATH – Mining Bitcoin News

Bitcoin’s hashrate has been riding high again as the processing power tapped another lifetime high on January 15, 2022, reaching 219.68 exahash per second (EH/s). The new record follows the previous all-time high (ATH) on the first day of the year, when the network’s hashrate tapped 219.5 EH/s.

Bitcoin’s Hashrate Hits a Milestone, Analyst Discusses Miner Capitulation, Estimated Bitcoin Production Cost

Bitcoin miners dedicate a lot of SHA256 processor power to BTC network on Jan 15, when the network reached an ATH quickly just after noon (EST). The record was just a hair above the previous ATH on January 1, at 219.5 EH/s as today’s hashrate reached a high of 219.68 EH/s. At the time of writing, the network’s hashpower is coasting along at 199 EH/s.

This rise is due to the recent decline in hashrate, which occurred while residents of Kazakhstan rebelled against the government. The internet in Kazakhstan was also temporarily cut off. Although it was commonly believed that hashrate fell 15% due to problems in Kazakhstan, miners from the area claimed otherwise. Data indicated at the time that BTC’s price drop and mining difficulty increase contributed to the 15% loss in hashrate.

Estimates today show that the cost of mining a single Bitcoin is currently $34K. Tweet account, analyst Venture FounderRecently, it was revealed that the production price point for bitcoin is approximately 20% lower than its current value. “The worst dumps bitcoin ever had, were due to miners’ capitulation (Dec 2018, Mar 2020), when bitcoin fell below production costs, it is at risk for miner capitulation,” the analyst tweeted. Venture Founder was added

[Bitcoin]Miner capitulation was possible at $30k per month in May. Production costs currently stand at $34k. This is 20% less than the previous year. [the] current price.

Bitcoin’s Mining Difficulty Expected to Increase 3.8% in 5 Days to New All-Time High

While it was expected to happen two weeks ago, Bitcoin’s mining difficulty will likely reach an all-time high during the next epoch change. It is anticipated that the next difficulty increase will occur in less than five days. According to estimates, it may rise up to 3.83% more quickly than today. If it does rise to that point and reaches 25.31 trillion, Bitcoin’s mining difficulty will reach another lifetime high.

The last mining difficulty ATH of 25 trillion was on May 13, 2021, and four difficulty decreases — including the largest epoch decrease ever — dropped the difficulty down a great deal. Since then, and after July 17, there’s been a total of 12 difficulty increases and just one decrease.

F2pool, which has 15.57% (or 28.88 EH/s), was the biggest bitcoin mining pool. Foundry USA had 15.55% (or 28.80 EH/s) and Foundry USA had 15.55%. Both pools have been jumping back and forth during the last few weeks in terms of Bitcoin’s largest mining pool.

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How do you feel about the January 15th 2022 hashrate peak and the upcoming mining difficulties ATH, which is scheduled to take place in just five days? Comment below and let us know how you feel about the subject.

Jamie Redman

Jamie Redman, a Florida-based financial journalist and news lead at News is Jamie Redman. Redman is an active participant in the cryptocurrency community from 2011. Redman is passionate about Bitcoin and open-source codes. Redman has contributed more than 5,000 articles to News since September 2015. These articles are about disruptive protocols that are emerging.

Credits for the imageShutterstock. Pixabay. Wiki Commons

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