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To mine or not to mine Bitcoin: this is the question to ask after the difficulty adjustment.

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NotiHash is CryptoNews’ Bitcoin mining newsletter. It is published on our website every week. Today’s, Thursday, December 8, 2022, is the 38th edition, published at the peak of the block. 770.095.


Bitcoin miners received good news this week with the latest difficulty adjustment. Still, the price of the digital currency created by Satoshi Nakamoto continues to show bearish signs, so much so that there are doubts about the best strategy to follow: pull out or shut down equipment while waiting for more favorable times..

As will be seen below, for the moment the strategy of reactivating teams is proving successful, although this situation could change in the coming weeks.

Bitcoin hashrate increases and difficulty decreases.

Bitcoin mining difficulty (blue) and network hashrate (brown).
Graph shows Bitcoin mining difficulty (blue) and network hashrate (brown). Source: braiins.
  • Average hashrate: 249 EH/s (week).
  • Maximum hashrate achieved: 262 EH/s (week).
  • Difficulty level: 34.24 billion (trillion).

The Bitcoin mining difficultiesas reported by CryptoNews last Dec. 6, had a decline of nearly 10 percent.. This situation was a dose of relief for the miners and the many decided to reconnect to the network.

Shortly thereafter, the computing power or the hashrate Bitcoin hashrate increased to a high of 262 EH/s hours ago. Looking at the entire last week, the increase in hashrate was 9%.. It increased from 239 EH/s on December 1 to 260 EH/s at the time of publication.

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The advantages of bitcoin mining

Rewards for miners.
Miners’ rewards increased this week from the previous week. Source: braiins.
  • Range of miners’ daily profits: between $15.29 million and $18.42 million (week).
  • Total rewards for Bitcoin miners: 912.98 BTC or $15.37 million (average of 144 blocks between Dec. 7 and 8).
  • Reward paid per transaction: 0.004056 or US$68.39 (average of 144 blocks between Dec. 7 and 8).

Source: Mempool.space and Braiins.

Compared with the previous week, the total rewards received by Bitcoin miners increased. Expressed in U.S. dollars, this increase would be equivalent to $4 million. This is related to the price of bitcoinwhich for several days exceeded $17,000.

Hashrate increase.
Increased hashrate favors Bitcoin users. Source: mempool.space.

The increase in hashrate, following the decline in the difficulty of Bitcoin miningfavors users who see quick confirmations of their transactions. Last week, however, the network was quite congested and wait times, in some cases, exceeded 30 minutes.

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Reference Binance Countries

Bitcoin hasprice and hashvalue show market still in crisis

  • Hashprice: 0.063 USD/TH/day.
  • Hash value: 372 sat/TH/day.

The hashprice, a profitability indicator used by Bitcoin miners.crossed the 0.060 USD/TH/day mark, which has not been seen in several weeks. The mid-week rally in the price of bitcoin created the conditions for this estimate to be positive.

By definition, hashrprice is a value assigned to a unit of calculation. It is expressed in dollars (USD) per terahash contributed to the network by mining equipment, for a period of one day. It is used to estimate the profit of a mining operation.

The hashvalue, on the other hand, is a value obtained when the same calculation is made on a BTC basis. In recent days, both hashprice and hashvalue have expressed values symptomatic of a market that is recovering slightly, though still in crisis.. Indeed, these values are far from the ideal figures of US$0.20/TH/day and 500 sat/TH/day, which was the average gain at the end of 2021.

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A mining pool concentrates one-third of the hashrate.

There was a pool of mining in particular, which saw remarkable growth during the year just ended. This U.S. pool concentrates one-third of the hashrate of all Bitcoin pools..

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Reference Binance countries

Although the growth of this company is remarkable, it raises some fears among bitcoiners because of the huge concentration of mining power it has. CryptoNews wrote an article in which reveals which pool it is And what concerns exist.

Former Ethereum miners ‘transferred’ to little-known network

Since Sept. 15, when Ethereum had its merger and continued to use the Proof of Stake (PoS) protocol, ether (ETH) mining is no longer possible. Those who owned graphics cards (GPUs) and used them for this activity had to sell them or use them for other networks. On December 5, this news portal reported the news of the huge growth of one such cryptocurrencyboth in its hashrate and in its price.

FTX “fuels” environmentalists opposed to Bitcoin mining

As is well known, many oppose Bitcoin mining with environmentalist arguments.. The energy consumption of this activity does not please some people who are calling for its limitation or even outright ban. Now, with rather suggestive arguments, some of these opponents are trying to add the fall of FTX to their environmentalist discourse. anti-mine, as reported by CryptoNews this week.

Regulatory developments in Paraguay

The law intended to regulate the use of bitcoin, including its mining, in Paraguayan territory has fallen into an undesirable situation for its promoters. The The Chamber of Deputies made a decision which curbs (at least for the moment) the proposal.

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Featured Image.

CryptoNews interviewed a representative of South American miners who showed us the Sammy Home. It is a home device for Bitcoin mining..

In the article published Dec. 2, it can be seen. the full video of the interview.

Sammy Home, home device for Bitcoin mining.
Sammy Home is a home device for Bitcoin mining. Source: CryptoNews – Video interview screenshot.

To learn more about Bitcoin mining, see our Cryptopedia.

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