Published in Lumerin Blog·6 days agoHere’s How the Banking Crisis Is Leading People Back to BitcoinAs more banks struggle, Bitcoin rises as the decentralized currency alternative — It’s been less than a week since the California Department of Financial Protection & Innovation closed Silicon Valley Bank and appointed the Federal Deposit Insurance Corporation (FDIC) to take over. This event marked the second largest bank failure in United States history — the first one being Lehman Brothers in…Bitcoin6 min readBitcoin6 min read
Published in Lumerin Blog·Mar 9Hashprice Explained: A Crucial Metric in The Mining IndustryLearn about one of the most helpful metrics to calculate mining profitability — Hashprice Basics: What Exactly Is It? Hashprice is a Bitcoin mining metric that represents the miner revenue on a per terahash basis. In other words, it is the average value — in fiat currency — of the daily rewards a miner gets per each terahash calculation (USD/TH/s per day). …Bitcoin3 min readBitcoin3 min read
Published in Lumerin Blog·Mar 2What Does The Bitcoin Difficulty All-Time High Mean For Miners?Revisiting the basics about Bitcoin mining and difficulty — Bitcoin difficulty has reached a new all-time high — again. And yet, many Bitcoin newcomers don’t really know what this means. So, let’s refresh the basics. The Bitcoin network consists of miners who use their computing power to solve complex mathematical problems and validate transactions. …Bitcoin4 min readBitcoin4 min read
Published in Lumerin Blog·Feb 23Bitcoin NFTs Are on the Rise — What Does This Mean for Miners?Bitcoin Ordinals are driving unexpected revenue to miners — An unprecedented phenomenon has shaken up the Bitcoin community in the last few weeks: NFTs. Yes, you read that right. By leveraging features added in the SegWit and Taproot upgrades, thousands of users are now “minting” NFTs called Ordinals on the Bitcoin network through a process called inscription. However, this…Bitcoin5 min readBitcoin5 min read
Published in Lumerin Blog·Feb 16Bitcoin Hashrate Reaches A New All-Time High: Here Are The Key ReasonsAnalyzing causes of the recent hashrate increase — Bitcoin’s total hashrate is a critical indicator of both the network’s health and security, but it’s also telling of miners’ sentiment. Bitcoin’s hashrate measures the total computing power dedicated to Bitcoin mining, and it reflects the number of hash guesses that all Bitcoin miners combined can perform per second. Therefore…Bitcoin6 min readBitcoin6 min read
Published in Lumerin Blog·Feb 13Hashrate slows down as Bitcoin’s rally cools offAnalyzing Bitcoin’s difficulty adjustment and mining profitability — The latest difficulty adjustment, effective at block height 776,160, decreased mining difficulty by 0.49%. In this overview, we’ll analyze the effects on mining and profitability. Bitcoin’s total hashrate During the last adjustment, we mentioned how hashrate tends to follow price, as it drives mining profitability for the most part.Bitcoin2 min readBitcoin2 min read
Published in Lumerin Blog·Feb 9Exploring the dynamics between Bitcoin hashrate, price, and profitabilityOver the years, the common dynamic for hashrate and Bitcoin’s price has been for the former to follow the latter. The logic behind this is really simple: the higher the price, the more profitable it is to mine and, therefore, more miners connect to the network to seize the opportunity…Bitcoin5 min readBitcoin5 min read
Published in Lumerin Blog·Feb 2Bitcoin mining becomes more sustainable after leaving KazakhstanThe Bitcoin mining landscape keeps developing as more local governments define their stance on it. Ever since China’s crackdown on mining — which led to one of, if not the greatest miner migration in Bitcoin history — we’ve seen more events that have led the industry to where it is…Bitcoin4 min readBitcoin4 min read
Published in Lumerin Blog·Jan 31Yet another all-time high — Bitcoin mining hashrate and difficulty grow to a new maximumAnalyzing Bitcoin’s difficulty adjustment and mining profitability — The latest difficulty adjustment, effective at block height 774,144, increased mining difficulty by 4.68%. In this overview, we’ll analyze the effects on mining and profitability. Bitcoin’s total hashrate In the Bitcoin mining industry, it’s normal to see hashrate following price. This time wasn’t the exception. With Bitcoin continuing its climb — albeit at…Bitcoin2 min readBitcoin2 min read
Published in Lumerin Blog·Jan 26Mining Bitcoin solo: Is it worth challenging the odds?Another solo miner becomes a lucky winner — Last week, an incredibly lucky miner managed to find a Bitcoin block with only 10 TH/s, forever recording it on the blockchain and securing a reward of 6.25 BTC, or $141.875 at today’s price. While the chances for this to happen are extremely slim — one in 26.9 million, to…Bitcoin5 min readBitcoin5 min read
