While Bitcoin’s mining difficulty was expected to decrease two days ago on June 8, instead the difficulty increased by 1.29% on Wednesday. On the same day, at block height 739,928, Bitcoin’s hashrate tapped an all-time high reaching 292.02 exahash per second .This week, the Bitcoin network has never been more powerful as the protocol’s computational processing power reached a lifetime high on Wednesday. In fact, at 292.02 EH/s the network neared the 300 EH/s region for the first time.
The hashrate has been running so high that the difficulty adjustment algorithm that was expected to decrease, increased by 1.29% instead. Three days ago on June 7, the difficulty was expected to see a reduction of 0.51%. At 292 exahash per second, two hundred ninety-two quintillion hashes per second were dedicated to the Bitcoin blockchain’s security on Wednesday. Three-day statistics show that Foundry USA has been the top mining pool, with fifty-two quintillion four hundred twenty quadrillion H/s or 52.42 EH/s.
Bitcoin is the main culprit in the collapse of the foreign exchange market, because no coin is allowed to grow these days. If Bitcoin rises above the $ 50,000 mark, all currencies will retain their position.
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Miners with neutral or slightly positive EBITDAs are losing, via depreciation. EBITDA is a non-optimal metric when running a cap intensive model, as it obfuscates CAPEX/ D. US$5M miner fleet + Neutral EBITDA (no stacking). = US$1M loss p/annum (5 yr. S/line D)
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