Posts Tagged ‘Bitcoin (BTC)


The total network hashrate of the Bitcoin network has reached another major milestone, passing over 1 Exahash per second or 1000 Petahashes per second peaking at 1,008,642,232 GHS according to the data from Interestingly enough the total network hashrate at the previous difficulty adjustment on January 13th was just about 811 Petahashes and back in November last year the hashrate was just about 500 Petahashes per second or half than what it is now. This is really serious and fast growth of the total network hashrate that Bitcoin is experiencing doubling in just about two months. So what comes next after Exahashes per second, can you guess when the network hashrate will get to Zettabytes or Yottabytes… maybe we are going to see these in the near future if it continues to grow at such fast pace.


We have compiled a short table showing how much Bitcoin you could mine with 1 THS hashrate starting November 1st up until the estimate for February 1st this year. This period covers 3 months and as you can see the coins mined for just these 3 months pretty much halved due to the rapid increase in the network hashrate and thus the network difficulty. The table shows the numbers of coins you could expect to have mined without any cost for electricity for own hosted mining hardware or maintenance fees for cloud mining. The end result is pretty much the same however – the profit for miners has declined significantly, especially for the ones using older hardware with more electricity being used.

What some of you might not remember that well already is that prior to November last year the exchange rate of Bitcoin was in the $200-230 USD range and around November 1st it was already in the three hundreds, briefly peaking up to about $500 USD. For the last three months the price of BTC has essentially almost doubled, so considering that the difficulty has also doubled miners should still be getting roughly the same amount of USD when they convert the mined BTC, even though the coins mined are half of what they were before.

Later this year another important event for Bitcoin is going to take place, in about 6 months we are expecting to see the second halving of BTC block reward from from 25 to 12.5 coins. This essentially means that the coins mined will yet again drop in half with many expecting that the price of Bitcoin will compensate by increasing further from the level it is now. If this happens we might as well see 1 BTC traded for about $1000 USD as early as this summer…

To keep track of the remaining time you can check the Bitcoin Block Reward Halving countdown here…


With the release of the latest generations of powerful mining hardware such as the Bitmain AntMiner S7 and Avalon 6 that is available to normal miners and not only to large mining operations along with the increase of the Bitcoin price lately mining for Bitcoin has started to become profitable again. As a direct result of the new hardware getting released and the price increase there was the inevitable total hashrate and thus difficulty increase in the Bitcoin network and that increase has been quite significant. If you take a closer look at how difficulty has risen in the last month and a half or so you will notice that the things have developed quite rapidly with close to 50% increase and the rise will apparently continue with a lot more more new hardware still getting added. So while it is still quite profitable to mine with new hardware such as the latest ASIC miners mentioned above and fast ROI times for these devices the miners with older hardware might already be struggling to make a profit. So you should be careful with making investments in new mining hardware even though at the moment things look quite nice if you do the math.

Do note forget that in a couple of months, roughly this summer, another halving of the Bitcoin reward is expected and even though it will most likely be coming with another significant increase in the price of BTC you should still have it in mind. The current situation on the Chinese financial markets are also significantly influencing the price of Bitcoin with many people saying that the trouble in China are also responsible for many people turning to BTC and thus further increasing the price of the crypto currency. This all means that we have an interesting year ahead of us with many expecting to see Bitcoin price getting back to levels like $1000 USD per BTC when the reward halving occurs and even more by the end of the year. Still this does not mean that there could be some negative surprises as well, so you should be carefully and not rush into buying Bitcoin or getting back into mining it without thinking things through first.