Bitmain’s BTC Mining Hash Rate Drops by 88 Percent

The Hash Rate Hash Rate A hash rate is the measure of a cryptocurrency miner’s performance and a key security metric. In the context of mining, the more hashing or computing power in a given network, the greater its security and its overall resistance to attackMining hashrate is a key security metric. The more hashing (computing) power in the network, the greater its security and its overall resistance to attack. Hash rate is also a measurement of the output of a device that is used to add transactions to a blockchain A hash rate is the measure of a cryptocurrency miner’s performance and a key security metric. In the context of mining, the more hashing or computing power in a given network, the greater its security and its overall resistance to attackMining hashrate is a key security metric. The more hashing (computing) power in the network, the greater its security and its overall resistance to attack. Hash rate is also a measurement of the output of a device that is used to add transactions to a blockchain Read this Term generated by Chinese miner-manufacturer Bitmain’s BTC mining operation has dropped by as much as 88 percent in the last 30 days.

The numbers were revealed by Bitmain on May 7 as a part of its computing power disclosure which it publishes each month. As per the figures, the hash rate for SHA256 - the protocol for Bitcoin and Bitcoin Cash mining - has gone down from 1,692.35 PH/s in March to 237.29 PH/s as of the beginning of May.

Bitmain is primarily an ASIC-based crypto mining hardware manufacturer and makes some of the widely used crypto miners like its Antminer series. The Chinese company also operates an in-house crypto mining operation using its own pieces of equipment for an alternative income source.

Dominance went missing

The Chinese giant began disclosing the hash rate in last July when it was generating hash power of 1,692.05 PH/s. This went up in October as the company recorded 2,339.21 PH/s in hash power. With this, Bitmain’s total computing power for BTC mining dropped from four percent to 0.4 percent.

The miner-manufacturer also operates two major mining Bitcoin mining pools - Antpool and BTC.com. In January, both of them together contributed around 23 percent of the total hash power of the entire Bitcoin mining pool, which went down from the record high of 41 percent.

The drastic drop of Bitmain’s hashing power is odd as the company expanded its mining activity by deploying 200,000 devices in southwestern China to Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term from the cheap electricity cost in the region during monsoon season.

Meanwhile, the hardware maker has also launched the next generation BTC mining devices - Antminer T17. Each of these second generation devices is capable of producing 40 TH/s and are much power efficient from its predecessor.

At a break even of $0,102/kwh it would be as of yesterday profitable to mine from home with grid prices in some Countries with Bitmain S17Pro50, the most efficient miner we are currently analyzing. It is VERY profitable mining right now and MSM are forgetting to talk about it! pic.twitter.com/0PbTT9MeaG

— acrual (@acrual) May 1, 2019