Bitcoin and Ethereum’s Hashrate Rise

ethereum gpu mining farm

Bitcoin’s hashrate has risen to a new all time high, surpassing 144 petahashes per second with the uptrend continuing while the nature of bitcoin mining is also changing. It used to be just hobbyist who were replaced by giant mining farms, but now states are getting involved, with Iran seemingly considering bitcoin mining as a strategic asset while Kazakhstan sees it as providing economic opportunities. This changing nature of bitcoin mining may also affect its price from an investment perspective because industrial mining farms were and are pure businesses that see bitcoin just as the product through which to make profits. They sell it instead of actually using it, unlike strategic mining which values it more for its capabilities of facilitating international trade. As such, strategic mining may have less downwards pressure on price as the coins are not quite sold, but practically exchanged for goods or sometime for services.…

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