March 21, 2019

Bitcoin hash rate has peaked since the beginning of the year.

This week, bitcoin hash rate reached its highest level since last November, exceeding 52,000,000 Tx / s.

This is confirmed by the site Blockchain.com. The hashrate measures the total computing power of miners that provide network security. As the hashing capacity continues to grow, the next recalculation of complexity is likely to add about 4% on Sunday.

The last surge may be significant, as this means that consolidation on a hashrate chart can now be completely broken. The hashrate is also inexorably moving towards a record of 62,000,000 Tx / s set in August 2018.

First of all, the growth of hash rate can be explained by the start of mass production of the new generation of miners Bitmain Antminer S17, the chip for which was announced in February. However, the company obviously will not forget about itself, first of all by starting the installation of new miners in its own data centers.

The scam about the quick launch of Antminer S17 is also used by fraudsters. For example, there are proposals to buy a device with a power supply, 67.4 Tx / c hash rate and power consumption of about 1,400 W for only $ 1,299. Of course, this is fantastic:
The recovery of the hashrate suggests that unreasonable concerns that the mining industry is under threat when the price of Bitcoin plummeted late last year can now be eliminated. When the BTC price declined during 2018, the least efficient miners shut off their farms to avoid losses, reducing the total hash rate.

However, the Bitcoin complexity adjustment feature ensured that other miners continued to make a profit. The most serious correction of the complexity of mining occurred in December last year - then the complexity collapsed by more than 15% in one recalculation, for the first time since 2011.

It is worth noting that today's bitcoin hash rate is four times higher than when the price of BTC reached a record high of almost $ 20,000 in December 2017. Mass deliveries of new equipment in the coming months, if they begin, will raise the complexity by a few more tens of percent.