185 exahash, Bitcoin mining, BitFury, Bitmain, BTC Mining, Exahash, F2Pool, Gigahash, Hash, Hashpower, Hashrate, Microbt, mining, mining rigs, Petahash, Poolin, PoW, Proof of Work, Terahash

During the last week, the Bitcoin network’s hashrate has jumped to a record high of 185 exahash per second on March 14, 2021. The hashpower has relentlessly continued to rise, climbing a whopping 18,400% in five years since January 21, 2016.

Bitcoin Price Jumps Over 1,500% in a Year, Hashrate Climbs 18,400% in Five Years

The price of bitcoin (BTC) touched an all-time high (ATH) reaching $61,782 per BTC on March 13, 2021. It happened pretty much one year after the crypto asset’s most recent market bottom on March 12, 2020. The price had risen over 1,500% since that day, otherwise known as ‘Black Thursday,’ which saw BTC prices slide to $3,850 per unit.

BTC prices are down over 6% since the recent ATH and the value of the leading crypto asset has driven mining profitability. A touch after BTC hit the ATH in value, BTC miners ramped up the hashrate to 185 exahash per second (EH/s) the day after on March 14, 2021.

185 exahash, Bitcoin mining, BitFury, Bitmain, BTC Mining, Exahash, F2Pool, Gigahash, Hash, Hashpower, Hashrate, Microbt, mining, mining rigs, Petahash, Poolin, PoW, Proof of Work, Terahash

Bitcoin mining is extremely competitive and with the hashrate so high, the network’s mining difficulty is also at extreme heights as well. Currently, it’s never been more difficult to mine the leading crypto asset than it is today with charts currently measuring 21.7 trillion.

There are 18 mining pools directing hashrate at the BTC blockchain and F2pool was the number one miner for the last few months on end. However, F2pool’s hashrate has slid some and Poolin now captures the number one bitcoin miner in terms of hashrate distribution.

Poolin and F2pool have close to the same speeds as Poolin now commands 26 EH/s with 17% of the hashrate and F2pool captures 24 EH/s and 15.7% of the overall hashrate. The pool operated by crypto firm Binance holds the third-largest position with 12% of the BTC hashpower.

185 EH/s is a phenomenal speed and other sites like fork.lol recorded upwards of 189 EH/s on that day. To compare this with speeds five years ago data shows BTC’s hashrate has jumped 18,400% when it touched 1 EH/s that year.

Since 2016 a Single Mining Rig Improved by 1,328%, Institutions Purchase Tens of Thousands of Next Generation Miners

The price of bitcoin (BTC) has surely helped drive the hashrate to the number we are seeing today, however, other technological advances have fueled Bitcoin’s hashpower as well. At that time in 2016 when the hashrate was 1 EH/s, machines like Bitmain’s S9 series were the dominant miners in the industry.

Yet at that time, mining rigs did anywhere between 7 to 15 terahash per second (TH/s). Today, machines manufactured by Bitmain and other competitors like Microbt, process hash at around 100 TH/s. That’s an improvement of 1,328% efficiency per application-specific integrated circuit (ASIC) mining machine in five years’ time.

From 2015 through 2016, the 16nm semiconductor was the standard chip at the time for ASIC mining rigs. The company Bitfury had released what was called one of the “fastest†mining chips that could reach around 40 gigahash per second, while keeping the power efficiency around 0.06 joules per gigahash.

In December 2016, Bitfury’s mining pool captured over 9% of the overall BTC hashrate but today Bitfury’s mining pool has zero hash. 16nm ASIC mining chips have been replaced by far more efficient 12, 10, and even 7nm semiconductors. Moreover, companies are preparing to build even faster models with better chipsets in the future.

There’s also been a massive surge in institutional interest in bitcoin mining as large orders of mining rigs have been ordered in 2020 and into 2021. For instance, the company Marathon Group broke records when it purchased 70,000 next-generation bitcoin miners from Bitmain. The publicly listed Canadian bitcoin mining operation Bitfarms revealed the company purchased 48,000 Microbt Whatsminer mining rigs.

Even with a high $0.12 per kilowatt-hour (kWh) the top mining rig the Microbt Whatsminer M30S++ (112TH/s) captures over $32 per day. The Bitmain S19 Pro (110TH/s) series machine gets $32 per day as well using current exchange rates.

What do you think about Bitcoin’s hashrate reaching 185 EH/s and mining rig improvements? Let us know what you think about this subject in the comments section below.

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

RELATED NEWS

Bitriver to Sell Tokens Backed by 100 Megawatts of Low-Carbon Siberian Mining Power

On April 12, the international provider of colocation services for low-carbon cryptocurrency mining Bitriver announced it is launching a pre-sale of tokens backed by 100 megawatts (MW) of mining power in Siberia. The ERC20 tokens called “bitriver token (BTR)†will represent a single watt-hour (Wh) of Bitriver’s power in Bratsk. A Low-Carbon Crypto Mining Token […]

Xem chi tiết: Bitriver to Sell Tokens Backed by 100 Megawatts of Low-Carbon Siberian Mining Power

Online Game Operator The9 Plans to Purchase 2,000 Bitcoin Miners for Over $6 Million

The Shanghai-based online game operator, The9 Limited, has revealed the company is planning to acquire 2,000 Canaan Avalonminers for over $6 million in a stock deal. The9’s binding memorandum of understanding (MOU) explains that the new units will give the company 0.1 exahash of bitcoin hashpower. On April 9, the publicly-listed gaming and internet company […]

Xem chi tiết: Online Game Operator The9 Plans to Purchase 2,000 Bitcoin Miners for Over $6 Million

Texas Bitcoin Mining Swells- Riot Purchases Mining Site for $650M, Blockcap Establishes HQ in Austin

The Lone Star State of Texas is solidifying its role as a bitcoin mining and blockchain hub. This week two major bitcoin mining companies established operations in Texas. The company Riot Blockchain purchased a mining site in Rockdale and the bitcoin mining firm Blockcap announced establishing headquarters in Austin. Blockcap Sets Up Headquarters in Austin, […]

Xem chi tiết: Texas Bitcoin Mining Swells- Riot Purchases Mining Site for $650M, Blockcap Establishes HQ in Austin

Chinese Lottery Firm Rebrands, Purchases Bitcoin Mining Rig Manufacturer for $100 Million

Following the acquisition of the Chinese mining pool Btc.com, the China-based lottery company 500.com revealed the purchase of a bitcoin mining rig manufacturer Bee Computing. The Shenzhen firm purchased the semiconductor and mining device manufacturer for roughly $100 million in a share exchange agreement. 500.com Changes Name to Bit Mining Limited and Acquires Bee Computing […]

Xem chi tiết: Chinese Lottery Firm Rebrands, Purchases Bitcoin Mining Rig Manufacturer for $100 Million

Ether Hashrate Climbs to New Heights, Reports Say a 2,000 Megahash ETH Miner Set to Drop This Summer

In December 2020, the mining rig manufacturer Innosilicon released a new ethereum miner called the Innosilicon A10 Pro+, which processes Ethereum-based hashrate at around 750 megahash per second (MH/s). Regional reports have noted Innosilicon is dropping a new ether mining rig this summer that processes speeds of up to 2,000 MH/s. Additionally, during the course […]

Xem chi tiết: Ether Hashrate Climbs to New Heights, Reports Say a 2,000 Megahash ETH Miner Set to Drop This Summer

Abkhazia Plans to Criminalize Crypto Mining as Energy Crisis Deepens— Extends Temporary Ban

Crypto mining in Abkhazia is still a hot potato for the de facto state government, which is now determined to criminalize such activities. Continuous massive power disruptions, in parallel, are fueling the anger of the people towards crypto miners. Public Officials to Face Bigger Penalties According to a report published by E Daily, the Abkhazian […]

Xem chi tiết: Abkhazia Plans to Criminalize Crypto Mining as Energy Crisis Deepens— Extends Temporary Ban

Bitcoin Mining Difficulty Sets New Records, BTC Miners Capture $1.5 Billion in Revenue Last Month

On Friday, April 2, 2021, Bitcoin’s mining difficulty is the highest it has even been in its lifetime but bitcoin miners still captured record revenues last month raking in $1.5 billion in coinbase rewards and transaction fees. Today, the blockchain’s hashrate is around 160 exahash per second (EH/s) with 17 pools dedicating hashpower to the […]

Xem chi tiết: Bitcoin Mining Difficulty Sets New Records, BTC Miners Capture $1.5 Billion in Revenue Last Month

US Judge Dismisses Antitrust Case Accusing Bitmain, Kraken, and BCH Devs of Manipulation

A U.S. court in Miami has dismissed an amended complaint in the lawsuit that accused nine defendants including Kraken founder Jesse Powell, Bitcoin.com founder Roger Ver, Bitmain’s Jihan Wu, and a few open-source Bitcoin Cash developers of collusion. U.S. Magistrate Judge Chris McAliley dismissed the amended complaint under Federal Rule of Civil Procedure on March […]

Xem chi tiết: US Judge Dismisses Antitrust Case Accusing Bitmain, Kraken, and BCH Devs of Manipulation

Youtuber Builds a Bitcoin Miner Out of a 31-year old Nintendo Game Boy

Hut 8 Purchases $30M Worth of Nvidia’s GPU Miners, Looks to Push Capacity to 1,600 Gigahash

DMG and Argo to Launch a Clean Energy-Focused Bitcoin Mining Pool

Hut 8 Joins Foundry’s US Mining Pool, Adds Over 14,000 Bitcoin Mining Rigs of Hashpower

Hut 8 Joins Foundry’s US Mining Pool, Adds Over 14,000 Bitcoin Mining Rigs of Hashpower

500 MW by 2025: Bitcoin Miner Greenidge and It’s Wholly-Owned Power Plant to Be Listed on Nasdaq

Ebang Hopes to Capture a ‘Competitive Edge’ After Developing a Next-Generation 6nm Bitcoin Mining Chip

The Wisemining Sato Boiler- A Product That Aims to Heat Your Home and Offset Costs by Mining Bitcoin

Other Articles