Despite the multitude of headlines declaring that bitcoin mining was becoming unprofitable over the last four months, the hashrate between both Bitcoin Core (BTC) and Bitcoin Cash (BCH) networks has exploded. At the moment both SHA-256 proof-of-work (POW) powered protocols have been maintaining more than 35 exahash per second, becoming one of the most powerful computational systems in the world.
Also read: Play Music on Jukebox.cash – a Bitcoin Cash Infused Global Playlist
BTC Mining Hashrate Unphazed by ‘Crypto Winter’
There has been a massive decline in fiat value for nearly all cryptocurrencies represented within the digital asset universe during the 2018 ‘Crypto Winter.’ During this time, researchers and pundits have declared that when BTC/USD prices dipped below $8K, mining was allegedly unprofitable in some regions. However, as far as blockchain data is concerned mining has grown exponentially even during the last four months when BTC prices found new lows. This year pools such as BTC.com, Antpool, Slush, and Viabtc have increased their hashrates considerably. A factor possibly due to new semiconductors and innovations in mining technology.
Today the BTC global hashrate is 30 exahash per second. Over the last four months even when the price declined hashrate increased.
Over the last seven days, BTC miners have held a fairly consistent 30 exahash per second. From December 2017 up until April 2018, the BTC chain’s hashrate has increased significantly. According to estimates, Chinese mining pools make up most of the BTC hashrate (80%) as eight of the top ten pools are based in China.
Chinese mining pools make up more than 80 percent of the BTC global hashrate.
The top five pools command close to 75 percent of the global BTC hashrate with BTC.com
