Bitcoin (BTC) Mining Spikes to Astronomical Heights

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The Bitcoin (BTC) network keeps setting new records, as mining rose to above 89 EH/s, based on Bitinfo calculations. The exact hashrate may be even higher, as new ASIC came online in the past months, and new mining farms in China joined the fray.Currently, the Bitcoin network is still secured by four leading pools, BTC.com, F2Pool, SlushPool, and Bitmain’s Antpool. Smaller pools also show increased activity, as mining is once again highly profitable as BTC prices manage to keep above $10,000.What is curious about the recent mining peak is that miners continue to compete, seemingly undeterred by the constantly rising difficulty. In the past quarter, which saw a dramatic rise in mining, the difficulty has grown by 44%, in a constant series of upgrades. Bitcoin’s difficulty is recalculated every two weeks, and in the past, miners would shut down machines to achieve a lower difficulty. Now, the network hashrate grows…

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