Bitcoin (BTC) Mining Marked Another Record, Money Transfers Peak

5d4d45a3353b2400060903f0 700xauto

The Bitcoin (BTC) network keeps posting records, as July set the coin as the leader of growth and value. The Bitcoin network hashrate grew again, boosted by more powerful machines and the dominance of a handful of pools, to a peak above 80 EH/s, breaking the previous record of 79 EH/s.The past two months have seen a series of BTC mining records, starting with around 62 EH/s. The growth follows the re-awakening of BTC market prices, which makes the current block reward extremely lucrative. New machines also offer a high annual potential return rate. Currently, six large-scale pools take over more than 75% of block production, and four leading pools easily take up as much as 60% of block production.The Bitcoin network also carries peak amounts of value, especially in the case of large-scale cold wallet or whale transactions. Most BTC in cold storage remains unmoved, or are store on…

Read the original article here