slowdown of the hashrate expected
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The latest news in the field of Bitcoin mining talks about possible drops in hashrate and network difficulty during the months of July and August. In fact, during the warmer months, North American miners usually intermittently halt their operations, taking advantage of specific energy incentives and saving on cooling costs for the plants. With this expected slowdown of the hashrate, the mining companies in operation can take a breather from the post-halving situation and get a boost in extraction, waiting and hoping that the price of Bitcoin will increase by the end of the summer. Let’s see everything in detail below. Bitcoin news: the North American mining companies might feel the weight of the summer heat and decrease the active hashrate The latest Bitcoin news discusses a possible slowdown in the hashrate and network difficulty, in anticipation of the arrival of the hottest months of summer, where mining activities usually become less intense in North America. Usually, some mining farms like Riot and Core Scientific interrupt the extraction operations of the orange coin during the hottest hours of the summer months, having to face significant expenses for cooling the ASIC plants. In fact, the miners use extremely powerful machines that emit a lot of heat due to their complex calculations that they perform, therefore they need a lot of energy (usually air conditioning) to cool them down, especially when the outside temperatures exceed 35°. As the analysts of the Blockware Intelligence association indeed state: “The number one operational challenge for Bitcoin miners is heat mitigation. ASICs are large and powerful computers that can reach very high temperatures without adequate cooling measures.” Furthermore, it should be noted how these companies often make agreements with electricity suppliers Texans, who, finding it difficult to ensure the proper functioning of the grid throughout the…
Filed under: News - @ June 19, 2024 4:22 pm