While bitcoin’s value has remained well above the $60K range, the network’s hashrate has surged to over 184 exahash per second (EH/s) as mining devices are far more profitable at these prices. It is possible to make a daily profit by mining crypto assets with older generation mining devices that were manufactured more than four years ago.
Bitcoin Hashrate Following Ethereum’s Hashrate Toward All Time Highs
On November 15, 2021, Bitcoin’s hashrate climbed to 184 EH/s gathering 17. 19% more hashpower than the network saw a mere two days ago on November 13. Bitcoin’s (BTC) hashrate is getting close to nearing its all-time high (ATH), which was recorded on May 9, 2021, at 191 EH/s. Today’s Bitcoin hashrate metrics show that the hashpower is only 3.8% away from surpassing its ATH, according to coinwarz.com data.
Bitcoin hashrate on November 15, 2021, according to coinwarz.com.
In addition to BTC‘s hashrate nearing ATH, the second-largest crypto asset in terms of market valuation, ethereum’s (ETH) higher prices have also propelled its network hashrate. At 932 TH/s, Ethereum’s hashrate is awfully close to a single petahash per second or 0. 001 EH/s. Ethereum’s hashrate already reached an ATH. It has continued to soar higher, setting new records.
Ethereum hashrate on November 15, 2021, according to coinwarz.com.
It’s worth it for miners to mine ether in comparison to BTC, as ETH is the third most profitable network to mine. At press time, the most profitable ether mining rig the Innosilicon A11 Pro that produces 1,500 megahash per second (MH/s) or 0.0015 TH/s can rake in $109. 29 per day. Asicminervalue.com uses today’s ether exchange rates. The profit estimate is $0. 12 per kilowatt-hour (kWh) in electric consumption.
Using Today’s Exchange Rates, Top 3 Bitcoin Miners Make $36 per Day — Bitcoin Miners Manufactured Over 4 Years Ago Still Profit
The profits for the ether mining rigs are larger than BTC‘s mining profits stemming from the most profitable application-specific integrated circuit (ASIC) mining devices. Three SHA256 compatible miners on the market today, however, can command $36 per day in profits using $0. 12 per kWh in electric consumption and today’s BTC prices.
Top three ASIC bitcoin miners on November 15, 2021, according to asicminervalue.com.
The Microbt Whatsminer M30S++, the Ipollo B2, and the Bitmain Antminer S19 Pro are today’s most profitable BTC miners on the market, according to stats from asicminervalue.com. All three models boast hash speeds at over 100 TH/s. The Canaan Avalonminer 1246 which boasts 90 TH/s produces an estimated $27. 55 per day using today’s exchange rates. Furthermore, besides the top mining devices pulling in the highest profits, old school miners from 2016 are now profiting.
Old school bitcoin miners manufactured in 2016 that produced at least 8.7 TH/s can still profit mining bitcoin.
For instance, you can use $0. 12 per kWh in electricity per day and today’s BTC prices, a Bitmain Antminer R4 (8.7 TH/s) can get at least $1. 18 per day. The R4 mining rig was produced in 2017 and the popular Bitmain Antminer S9 (11.5 TH/s), manufactured over four years ago can get up to $1. 53 per day with electrical rates at $0. 12 per kWh.
What do you think about the recent mining action and Bitcoin’s hashrate climbing to 184 exahash per second? Please comment below to let us know your thoughts on this topic.
Image Credits: Shutterstock, Pixabay, Wiki Commons, coinwarz.com, asicminervalue.com,
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Vote postponed to renominate SEC commissioner Caroline Crenshaw
Senate Banking Committee chair Sherrod Brown called it a “disgusting smear campaign against Caroline Crenshaw” The vote was postponed minutes before it was due to begin by Brown No date has been set for Crenshaw’s renomination A US Senate vote to renominate Democrat Commissioner Caroline Crenshaw to the Securities and Exchange Commission (SEC) has been…
Senate Banking Committee chair Sherrod Brown called it a “disgusting smear campaign against Caroline Crenshaw”
The vote was postponed minutes before it was due to begin by Brown
No date has been set for Crenshaw’s renomination
A US Senate vote to renominate Democrat Commissioner Caroline Crenshaw to the Securities and Exchange Commission (SEC) has been postponed.
The vote was originally scheduled on December 11; however, it was postponed minutes before it was due to begin, reports Bloomberg. Sherrod Brown, the Senate Banking Committee chair, delayed the vote. When Brown requested the vote occur later that day, Republican senators blocked his request.
Brown later released a statement saying that corporate special interests are running a “disgusting smear campaign against Caroline Crenshaw.”
No date has been set for her renomination.
Earlier this week, crypto and blockchain advocacy groups voiced their opposition to Crenshaw’s renomination.
In a letter to Brown and Senate Banking Committee Ranking Member Tim Scott, the Blockchain Association and the DeFi Education Fund argued that Crenshaw’s actions have undermined Congress’s mandate to establish clear regulatory policies for the crypto industry.
In their letter, they mention Crenshaw’s “continued opposition to the approval of a spot Bitcoin ETP.”
Following the news of Crenshaw’s reappointment, Brian Armstrong, CEO of Coinbase, took to X to say: “She tried to block the Bitcoin ETFs, and was worse than Gensler on some issues (which I didn’t think was possible).”
A Republican-majority SEC?
The delay to Crenshaw’s renomination opens up the possibility of a three-person Republican SEC once Donald Trump enters the White House in January. Crenshaw’s term at the SEC officially ended in June; however, if she’s renominated she would be the only Democratic SEC commissioner.
The SEC can make up to five commissioners, but no more than three can form the same political party. Current SEC chair Gary Gensler, a Democrat, is stepping down on January 20, and SEC Commissioner Jaime Lizárraga, also a Democrat, will step down on January 17.
Australia fines Kraken operator $5 million for non-compliance
Kraken operator in Australia Bit Trade will pay a $5.1 million fine for non-compliance with regulatory requirements. The Australian Securities and Investment Commission accused the crypto platform of offering a credit facilty that did not comply with regulations. Kraken crypto exchange’s Australian operator firm has been slapped with a AU$8 million ($5.1 million) fine for…
Kraken operator in Australia Bit Trade will pay a $5.1 million fine for non-compliance with regulatory requirements.
The Australian Securities and Investment Commission accused the crypto platform of offering a credit facilty that did not comply with regulations.
Kraken crypto exchange’s Australian operator firm has been slapped with a AU$8 million ($5.1 million) fine for non-compliance with Australian regulations.
The Australian federal court fined Bit Trade following a lawsuit by the Australian Securities and Investment Commission. In its order, the court said that the Kraken crypto exchange operator must comply with the country’s crypto regulations.
The court ordered that the exchange ought to pay 8 million Australian dollars as a penalty for non-compliance with the local regulations. Notably, Kraken recently announced a licensed broker offering for clients in Australia.
Bit Trade failed to comply with regulations
In August this year, the court ruled in favour of the Australian Securities and Investment Commission. The regulator had filed a case accusing Bit Trade of issuing a credit facility without following the legal proceedings.
ASIC argued that Bit Trade did not make the target market determination, a requirement to protect investors. Between October 2021 and August 2023, ASIC stated that the firm offered a margin extension to 1,100 users which cost them a loss of over $5.2 million without following the legal requirements.
The market regulator’s demand was Bit Trade to pay a fine worth 20 million Australian dollars. On their argument, Bit Trade put their limit to a maximum of four million Australian dollars. The penalty follows these proceedings, and the Kraken operator in Australia has 60 days to comply with the order.
In addition, the firm would cover for all the commissions court proceedings costs.
Kraken has faced regulatory hurdles in the US too, with the Securities and Exchange Commission (SEC), suing the exchange earlier in November 2023.
SEC’s allegations include Kraken offering of unregistered activities and operating as an unregistered broker. In August 2024, a US court denied the exchange’s motion that sought to dismiss the SEC’s lawsuit.
Saylor and Bukele Discuss How El Salvador Can Accelerate Global Bitcoin Adoption
Michael Saylor has met with Salvadoran President Bukele to discuss accelerating global bitcoin adoption as El Salvador strengthens its position, continuing to accumulate bitcoin despite IMF-driven policy adjustments. Michael Saylor Meets Nayib Bukele to Discuss Bitcoin Strategy Michael Saylor, executive chairman of Microstrategy (Nasdaq: MSTR), met with El Salvador’s President Nayib Bukele on Feb… Read More