Bitcoin’s complexity sets new record amid rising miners‘ earnings and hardware shortage

Bitcoin’s complexity sets new record amid rising miners‘ earnings and hardware shortage
Januar 9, 2021 No Comments Geschichten admin

Bitcoin’s mining complexity increased by 10.79% in the latest recalculation. The figure set a new record at 20.61T.

The BTC.com service predicts another difficulty increase of more than 10% (to 22.84 T) at the end of the next recalculation of the difficulty.

The new record comes as no surprise given the continued growth in miners‘ revenues, noted business development manager of mining software developer Braiins Edward Evenson.

Bitcoin miners‘ revenues have been growing at an accelerated rate over the past four months.
In November and December 2020, miners‘ revenues rose 50% and 30% respectively. Data: ForkLog, Coin Metrics.

Along with complexity and revenues, bitcoin hashrate is also increasing.
Bitcoin hashrate dynamics since early 2020. Data: Glassnode.

„I think this trend will continue in the first half of 2021,“ the expert stressed.

According to him, miners‘ demand for ASIC equipment clearly exceeds supply.

„It was only in the fourth quarter that ASIC device manufacturers were forced to turn down orders for mining equipment worth more than half a billion dollars. The equipment supply chain is now overwhelmed by the huge demand,“ Evenson stressed.

As a reminder, US-based mining company Riot Blockchain is expecting 15,000 Antminer S19 Pro and S19j Pro devices from Bitmain for a total value of around $35 million.

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