Bitmain to Unveil Computing Power Volume

Bitmain claims that they have the following computing powers: 1692.05 PH/ sec on the SHA256 algorithm, 339.69 GH / s on ETHASH and only 44.19 GH / s on SCRYPT
26 July 2018   830

The largest manufacturer of mining equipment Bitmain will update every 30 days information about its own mining capacities and show which hashrates the company controls on three algorithms: SHA256, ETHASH and SCRYPT. 

To put it plainly, we believe that communities served by Bitmain and its products should be supported and served as transparently as possible. Recent measures have included restricting order quantities, ensuring a first-paid-first-ship order of fulfillment, blocking IPs that we suspect to be hoarding, and publishing detailed shipping updates openly.
 

Bitmain

Bitmain claims that they have the following computing powers: 1692.05 PH/ sec on the SHA256 algorithm, 339.69 GH / s on ETHASH and only 44.19 GH / s on SCRYPT.

Bitmain also denied accusations that the company-controlled pools specifically produce empty blocks. Representatives of the organization believe that the problem of generating empty blocks exists at the protocol level.

Moreover, the company promised to publish data on the number of new miners in the first batch and delivery dates.

Previously, the analytical resource CoinDance reported that in the penultimate week of June, Bitmain-controlled pools of BTC.com and Antpool produced 25.5% and 16.5% of all blocks of bitcoin, respectively.

Bear Market to Hit Mining Hard

BitMEX research division presented an analysis of the impact of market decline on the mining industry
11 December 2018   166

The cryptocurrency market has experienced a marked decline over the past weeks. The BitMEX research division presented an analysis of the impact of these events on the mining industry. Bitcoin hash rate has fallen by 31% since the beginning of November, which is equivalent to the capacity of 1.3 million Bitmain S9 devices. From this, BitMEX concludes that miners as a class are in a difficult situation, however, they may have different conditions, and those who pay more for electricity, are forced to turn off their equipment first, while others may still be quite viable.

The decrease in the price of Bitcoin by 45% since the beginning of November has already caused two recalculations of the complexity of mining to the lower side - by 7.4% and 15.1% on November 16 and December 3, respectively. The first recalculation turned out to be the largest since January 2013, the second - since October 2011.

Bitcoin mining revenue fell from $ 13 million per day in early November to $ 6 million per day in early December. The fall in the size of the miner's encouragement turned out to be even more rapid than the fall in the price of cryptocurrency. This is due to the delay in recalculating the complexity of mining. For the six-day period ending December 3, 21.8% fewer blocks were mined than expected, since the miners left the network before recalculating the difficulty. As a result, in addition to reducing the size of the miners' encouragement in dollar terms, due to lower asset prices, they received 21.8% less bitcoin awards.

One of the popular reasons for the recent decline in the cryptocurrency market is that miners sold bitcoins to cover their costs of hash warsin the Bitcoin Cash network. The monitoring platform Boltzmann recorded an unusually large sale of Bitcoin by the miner on November 12, that is, 3 days before the hard fork of Bitcoin Cash.

BitMEX assumes that the actions of miners over the past weeks could have played a significant role in reducing the market, however, recommends not overestimating their value and reminds that in a bearish trend, prices continue to fall regardless of asset movements and news.