With this in mind, the new solution offered by Block may be able to tap into a market demand that will almost certainly be there. Thus, most likely, those who want to continue mining will be forced to upgrade their fleet by divesting the less efficient and performing machines. The problem will intensify after the halving, because the reward that is assigned to the miner who succeeds in validating a block will be halved. Moreover, since it is a competition, those who cash in the most are those who use more efficient and high-performance machines, while those who use machines that are no longer competitive often end up losing out and quit. Indeed, mining consumes a lot of power, and if revenues are not sufficient there is a serious risk that costs will exceed revenues. The point is that Bitcoin mining is a competition in which those who use higher performance machines win, and those who use machines with low computing power and high power consumption lose. ![]() It is worth noting that these very days saw the all-time high in Bitcoin hashrate, which is the total computing power allocated worldwide on this specific activity.Īll this really suggests that there is a growing demand for mining hardware, especially in view of the next halving, which will take place just in the second quarter of next year. Unfortunately, as of today there is no other precise information about it. The news is actually not yet official, although it has long been known that the company has been working on such a project.Īccording to rumors that started circulating on Twitter yesterday, the launch will take place in early 2024, and will consist of a full set of Bitcoin mining hardware. ![]() ![]() BREAKING: Jack Dorsey's Block to launch complete set of #bitcoin mining hardware and software "early next year" □ /3e2BhPiGcP- Bitcoin Magazine July 11, 2023
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