Miners continue to take action and some are not surviving the Bitcoin (BTC) bear market.
Interestingly, significant investments are being made in renewable energy.
Noti Hash is CriptoNoticias Bitcoin mining newsletter. It is published on our website every two weeks, and takes place today, Thursday, June 30, 2022, the twenty-third edition to be published, in complex 743,052.
The bitcoin (BTC) bear market continues to have a major impact on bitcoin mining, affecting the operations and profitability of the industry.
This is the situation Bitcoin Mining Energy Consumption Reduced Significantly, according to a study by the University of Cambridge. In this line of argument, another investigation confirms that mining Bitcoin is also capable of 20% reduction greenhouse gas emissions.
Since the recent release of Noti Hash, the Bitcoin mining newsletter from CriptoNoticias, we’ve also seen reports of the industry opening up towards solar energy.
More and more US miners are turning to this method of power generation to maintain their operations. Even, in particular, members of Congress from that country Highlight the Benefits of Proof of Working Bitcoin (Proof of work, proof of work) They rejected it as harmful to the environment.
Similarly, the government in Uzbekistan has halted operations except for those dependent on solar energy, while in El Salvador they have announced an investment of $200 million to build a solar-powered mining farm.
In Iran, for its part, they have imposed restrictions on the electricity consumption of bitcoin miners.
Meanwhile, in Russia they do not turn their back on oil energy, as one of the main state companies dedicated to this sector She announced that she is preparing to venture into Bitcoin mining.
The growth of bitcoin mining is undeniable in terms of new practices, but also in terms of its geographical expansion. According to the research, there are already more than 6000 sites with mining farms operating all over the world.
On the other hand, bad actors also see opportunities to do harm, as with a company of a fraudulent nature, who stole nearly $10 million from 2,000 investors In South Korea, under the false promise of miners working in Kazakhstan.
As a noteworthy fact, While the bitcoin price has fallen, the network’s hash rate or processing power appears to have recovered slightly.
Bitcoin miners profitability by floor
The Bitcoin Bear market has a brutal impact on the Bitcoin mining industry, with many struggling to survive with profitability in the depths of 2022. For example, one company lost its facilities for non-payment of debts 1.2 million US dollars.
While some miners have been disconnected from the network, and those that continue to operate thanks to commissions from Bitcoin users, others have also seen the option to request credits and pay them for their production, as is the case with Bitfarms.
Some companies take advantage of the opportunity afforded by low prices to save or He carries Bitcoin. Thanks to the bear market, Mining equipment price decreased More than 60% compared to the beginning of 2022And the For this same reason, some benefit from acquiring equipment to increase their production.
In the context of price control due to the tense economic situation in Argentina, the authorities confiscated a batch of mining equipment claiming to possess them The price is higher than what is currently prevailing in the market.
This sector, of mining equipment, could be very attractive to hardware and microprocessor manufacturers, such as Samsung, whose latest developments will first be implemented in mining equipment manufactured by a MicroBT subsidiary.
Mining from other networks
picture of the week
Investor Stacey Herbert, Ambassador of El Salvador to the United States Melina Mayorga, and Cecilia Rivera, Representative of El Salvador in the Central American Parliament (Parlacín) visit the site where a solar-powered mining farm will be built.
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