Published in Lumerin Blog·1 day agoMining 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
Published in Lumerin Blog·4 days agoLumerin AMA Recap with Scott Terry, Senior Golang EngineerInterview Session Last week, we hosted an AMA session in our English Telegram channel with Scott Terry, Senior Golang Engineer. In it, we discussed technical and developer updates about the Lumerin Protocol. Here’s a short recap: Q: (Iryna): Can you please introduce yourself to our community? A: (Scott): Thanks, Iryna. Hello everyone…Lumerin5 min readLumerin5 min read
Published in Lumerin Blog·Jan 19Bitcoin miners catch a break as revenue per TH/s hits its maximum in three monthsThe sudden increase in Bitcoin’s price gave miners some peace, but how long can it last? — Bitcoin miners might as well celebrate this week. For the last year, they have been struggling to remain afloat. The increase in electricity prices, a new wave of unfavorable regulations in many countries, and, most importantly, Bitcoin’s price action have all been terrible blows to miners’ operations. …Bitcoin3 min readBitcoin3 min read
Published in Lumerin Blog·Jan 17New hashrate all-time high makes Bitcoin mining as hard as it’s ever beenAnalyzing Bitcoin’s difficulty adjustment and mining profitability — The latest difficulty adjustment, effective at block height 772,128, increased mining difficulty by 10.26%. In this overview, we’ll analyze the effects on mining and profitability. Bitcoin’s total hashrate It only took 2023 two mining epochs to bring us a new hashrate all-time high. In this case, two factors coincided for this happen. First…Bitcoin3 min readBitcoin3 min read
Published in Lumerin Blog·Jan 12Only two pools mined over 50% of Bitcoin’s blocks at the end of December — should we be concerned?Diving into the different layers of Bitcoin’s centralization risk — The last two years have been full of revelations about the core functioning of the Bitcoin mining industry. First, China’s crackdown on cryptocurrency mining led to the — surprisingly fast — relocation of around half the total Bitcoin hashrate. …Bitcoin5 min readBitcoin5 min read
Published in Lumerin Blog·Jan 6ASIC miner prices are close to all-time lows: Unique opportunity or desperate exit?Exploring causes and consequences of the price of mining hardware — Fewer people would be happier that 2022 is over than Bitcoin miners. The year was one of the toughest ever for the industry, with several big players going out of business due to low profitability and crippling debt. Fortunately, it’s now over, and here’s to a much more fruitful 2023. …Bitcoin Mining6 min readBitcoin Mining6 min read
Jan 4Bitcoin hashrate bounces after a significant drop; miners expectant on price actionAnalyzing Bitcoin’s difficulty adjustment and mining profitability — The latest difficulty adjustment, effective at block height 770,112, reduced mining difficulty by 3.59%. In this overview, we’ll analyze the effects on mining and profitability. Bitcoin’s total hashrate Hashrate dropped to 243.66 EH/s at the end of the last mining epoch. …Bitcoin3 min readBitcoin3 min read
Published in Lumerin Blog·Dec 22, 2022Sovereign countries mining Bitcoin: advantages and possible outcomesShould countries consider Bitcoin mining? — Last week, reports highlighted that the Tokyo Electric Power Grid (TEPCO) was aiming to start mining Bitcoin with excess energy. The aim was to capitalize excess energy produced by the publicly-owned utility company. This event, which puts Japan as the second country to mine Bitcoin after El Salvador, reopens the…Bitcoin4 min readBitcoin4 min read
Published in Lumerin Blog·Dec 20, 2022Bitcoin hashrate bounces after a significant drop; miners expectant on price actionAnalyzing Bitcoin’s difficulty adjustment and mining profitability — The latest difficulty adjustment, effective at block height 768,096, increased mining difficulty by 3.27%. In this overview, we’ll analyze the effects on mining and profitability. Bitcoin’s total hashrate After a considerable drop throughout the previous mining epoch, hashrate managed to bounce back to an average 253.07 EH/s by the time of the adjustment.Bitcoin3 min readBitcoin3 min read
Published in Lumerin Blog·Dec 15, 2022How Bitcoin mining can help develop vulnerable communitiesBitcoin mining operations can provide the necessary demand for upgrading energy infrastructure — On December 9, Jack Dorsey and Gridless Computing shared tweets on how an excess hydro-powered mining operation in a small Kenyan village is helping develop their communities by monetizing stranded energy and lowering electricity prices for the locals. This led to the revalorization of the positive effects that Bitcoin…Bitcoin4 min readBitcoin4 min read
