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Bitcoin’s Hashrate Surges to a Record High of 943 EH/s Amid Miners’ Increased Efficiency
In a surprising move, the Bitcoin network’s total hashrate has skyrocketed to an unprecedented level of 943 EH/s, defying expectations and redefining the narrative around Bitcoin mining. The unexpected surge in hashrate comes amidst a minor 0.45% drop in difficulty, which would have typically led to a decline in hash power.
However, this anomaly highlights the remarkable resilience and agility of top-tier miners who continue to scale their operations aggressively, leveraging newer rigs and cheap power sources to maintain profit margins despite declining mining rewards post-halving.
As data suggests, the concentration effect is driving smaller operators out of the market, while major players consolidate their position. This trend reinforces the notion that Bitcoin’s decentralized ecosystem has reached a tipping point, where larger-scale miners are better equipped to adapt and overcome the challenges posed by central banks or regulatory bodies.
Meanwhile, Ethereum is leading the charge in liquidation waves amidst heightened geopolitical tensions, with over $1.1 billion in notional value liquidated. This drastic increase underscores the need for investors to diversify their portfolios and hedge against potential market downturns.
In related news, Tether amplifies its gold strategy by allocating around $90 million towards Elemental Altus, underscoring its commitment to creating a new paradigm for digital assets and traditional commodities.
Source: cryptoslate.com
