• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
Breaking News: Binance.US Takes Action Amidst SEC Complaint: Delists Over 40 Trading Pairs
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
Bitcoinist.com
No Result
View All Result
Breaking News: Binance.US Takes Action Amidst SEC Complaint: Delists Over 40 Trading Pairs
Bitcoin Mining

Bitcoin Hashrate Plateaus After Slow And Steady Climb

Hououin Kyouma by Hououin Kyouma
1 year ago
in Bitcoin
0

Data shows the Bitcoin mining hashrate seems to have hit a plateau since the beginning of March, after observing a steady rise for many months.

Bitcoin Mining Hashrate Has Mostly Moved Sideways In The Past Month

According to the latest weekly report from Arcane Research, the BTC hashrate has broken its upwards movement and has hit stagnation recently.

The “mining hashrate” is an indicator that measures the total amount of computing power currently present on the Bitcoin blockchain network.

Generally, the more is the hashrate, the better is the network peformance. Also the more globalized it is (that is, the degree of decentralization is more), the higher is the security of the chain.

When the value of this metric rises, it means more mining rigs are going online as miners get attracted to the crypto.

Related Reading | I Went To The 1st-Ever “Bitcoin Night” In Buenos Aires. Here’s What I Found

On the other hand, a downtrend in the hashrate suggests miners aren’t finding it profitable to mine Bitcoin at the moment so they are taking their machine offline to cut the losses due to electricity costs.

Now, here is a chart that shows the trend in the Bitcoin hashrate over the past year:

Bitcoin Mining Hashrate

The indicator seems to have stagnated recently | Source: Arcane Research's The Weekly Update - Week 15, 2022

As you can see in the above graph, the Bitcoin hashrate had been on a steady rise since July 2021, up until the beginning of March 2022.

The mining hashrate set a new all-time high (ATH) during the period, but since then it has been mostly moving sideways.

Related Reading | How The Price Of Bitcoin Could Be Linked To Mining Taxes In Kazakhstan

One reason for this trend could be the low mining profitability right now. Due to the struggling BTC price, and some other factors like high competition and low transaction fees, the mining profitability is at a 12-month low.

It’s unclear at the moment how long this trend may last, but in the future any surges in the price of Bitcoin should encourage more miners to jump in and existing ones to expand.

As things stand though, miners are facing extremely thin margins so the sideways movement will rather serve as relief for miners online right now as they don’t face increasing competition and even lesser profits that way.

BTC Price

At the time of writing, Bitcoin’s price floats around $41.4k, up 2% in the past week. Over the last month, the crypto has lost 1% in value.

The below chart shows the trend in the price of the coin over the past five days.

Bitcoin Price Chart

Looks like the price of BTC has sharply risen over the past day | Source: BTCUSD on TradingView
Featured image from Unsplash.com, charts from TradingView.com, Arcane Research
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Hououin Kyouma

Hououin Kyouma

Loves to write, enthusiastic about cryptocurrency. Currently studying Physics at university.

Related Posts

Bitcoin

Bitcoin Investors Get Robust Returns In May – How Will Binance Lawsuit Affect Their Gains?

11 hours ago
Rare satoshis

Rare Satoshis: The Rising Star In Crypto After BRC-20 And Meme Coins?

1 day ago
Bitcoin Whale Shark

Bitcoin Sharks & Whales Have Bought 93,000 BTC Since April Top: Santiment

1 week ago
Bitcoin

BREAKING: Bitcoin Mining Industry Spared From 30% Tax In US Debt Ceiling Deal

1 week ago
Bitcoin

Bitcoin Taker Buy Sell Ratio At Highest Since Feb, What Does It Mean?

1 week ago
Bitcoin

Bitcoin Shrimps Continue Aggressive Accumulation As Holdings Hit ATH

1 week ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Play Finance

Now Trending

  • Whale Power Unleashed: Mooky Emerges as the Rival Meme Coin...

    6 days ago
  • Exploring the Meteoric Rise of Mooky: Could It Be the Next...

    6 days ago
  • Discover the Next Big Thing: Mooky.io Presale Boasting Fair...

    6 days ago

Top Casinos

Trust Dice
Trust Dice
Punt Casino
Punt Casino
mBit
mBit
1xBit
1xBit
K8
K8

Press Releases

  • DigiToad (TOADS) Stands tall against Dogecoin (DOGE) with...

    1 hour ago
  • Bitcoin (BTC) or the New Favorite, InQubeta (QUBE) ?...

    2 hours ago
  • Bitfinex and GoCrypto announce the listing of the GoC token

    4 hours ago
  • Discover the 3 promising Altcoins Whales are accumulating...

    5 hours ago
  • Tornado Cash Developer Set Free, InQubeta (QUBE) Presale...

    6 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance

© 2023 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.