Hash Rate Increases, Bitcoin Miners Become More Confident, Here Are the Benefits

When the price of Bitcoin is bleeding, both in the spot and derivatives markets, the Bitcoin hash rate continues to rise to record highs of all time. This is what reflects the confidence of the Bitcoin miners, especially welcoming the upcoming May 2020 Bitcoin Halving.

Bitcoin miners are the central node in the Bitcoin blockchain system. It is they who make sure every Bitcoin transaction is processed. When the Bitcoin network hash rate increases, it reflects the miners continue to support the sustainability of Bitcoin.

Look at the last two years, the Bitcoin hash rate rose from 40.15 Exahash per second to 123.2 Exahash per second on March 8. That is the highest achievement of all time.

In other words, related to Bitcoin Halving, since long ago they have been upgrading their mining equipment with a new model, which has higher specifications, but saves more electricity.

Now, because the hash rate rises, mining dificulty automatically increases to compensate for the increase in the hash rate.

This mining dificulty mechanism ensures the level of competition among miners is getting tougher and of course increasingly difficult. However, miners who have the biggest hash rate hash tool, they are the ones who have the opportunity to get Bitcoin rewards.

Mining difficulty changes every 2016 block, based on the time needed to find the previous 2016 block. If a block is found every 10 minutes, a 2016 find will take about 2 weeks.

Mining difficulty Bitcoin in the past 30 days.

Profit Mining Equipment
So what kind of Bitcoin mining tool is currently very capable and truly “compatible” with Bitcoin Halving later?

Antminer S17 + made by Bitmain is the recommended one. At 67 Terahash per second, with 2680 watts of electricity, the net profit is around US $ 7.29.

Of course the calculation is based on the current price of Bitcoin, with an electricity cost of 0.12 KWh and a pool fee of 1 percent. On the Bitmain site, S17 + is priced at US $ 1,567 per unit.

The profit range uses Antminer S17 +
The profit range uses Antminer S19 Pro

However, the most awaited Antminer is the S19 Pro model. Powered by 100 Terahash per second and 3250 watts of electrical power, the profit is estimated at US $ 111 per month. There is currently no price information for this S19. Estimated to be available in May 2020.

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