The Bitcoin (BTC) hashrate recovered after a one-day crash of nearly 30%, assuaging fears that the network is in trouble. BTC mining now happens at 94 EH/s, near the absolute peak just above 100 EH/s.
The drop in mining was considered a warning about the risks of pure proof-of-work. But even with the lower hashrate, it would be too expensive to attack the network. BTC still uses up as much electricity as Austria, due to the exponential growth of mining in the past six months.
BTC prices stabilized around $8,438.41. At this price level, mining with Antminer S17 is still profitable, though dramatically less so in comparison to June’s conditions. More ...