Bitcoin (BTC) saw mining rates hit a record of over 55 million TH/s, later retreating but still standing high at 52 million TH/s. The climb to peak rates follows a dip in mining, which took away around 20% of hashing power, albeit temporarily.
The hashrate for the Bitcoin network has been growing regardless of the sliding price, which fell once again toward the $6,300 level. Some of the reasons include new shipments of the Antminer rigs, which are now more efficient and have a higher hashrate. The curious thing is that despite the impressive hashrate increases, the energy use of Bitcoin has leveled out, as seen on the specialized index.
The rush to mine Bitcoin also underlines the fact that it is hard to find quality coins to mine. Mining for altcoins has declined, including Scrypt mining for Litecoin, which has lost 30% of its hashing power in the past three months.
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This article appeared first on Cryptovest
