January 15, 2019 / In the world

Major Variation In Bitcoin Mining Market


Bitcoin mining had serious variations in 2018. The hash rate of the mining pools such as F2Pool and BTCC decreased, and the number of unknown miners increased.

According to research company Diar report, the profit from mining Bitcoin for 2018 decreased by 83%. Income from bitcoin mining in January amounted to $ 1.4 billion, but in December 2018, miners earned only $ 210 million. For the first 3 quarters of last year, profit reached $ 4.7 billion.

The Diar report states that in 2018 the computing power of unknown miners increased. In 2017, they accounted for 6% of the hash rate, in 2018 this figure increased to 22%. The computing power of the leading mining pools of ViaBTC, F2Pool and BTCC has decreased, so the network has become more decentralized, which reduces the chanses of a attack 51%.

Bitcoin blockchain hash rate:

hash rate

At the beginning of 2018, Bitmain’s pools controlled by 53% of the Bitcoin blockchain hash rate, to date they own for only 39%. However, 55% of the computing power continues to control by the 33 largest pools. It is also worth noting the positive dynamics of hashrate changes: over the year, the computing power increased by 275%. In addition, the popularity of BTC mining at ASIC miners is growing – now 35% of the blocks are mined using them.

Due to the fall of Bitcoin in the autumn, amateur mining has lost profitability. Getting coins at home has become unprofitable on most devices. The situation will change if the BTC rate rises to at least $ 4,000, in which case mining on equipment like AntMiner S9 will again start to generate a small income. According to the Whattomine portal, it is most profitable to mine Sia (SC) at ASIC.


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