Bitcoin hashrate hits new highs, with more than 500,000 new mining machines coming online in the past three months

Bitcoin hashrate has hit a new high again, indicating that more than 500,000 new top-level mining machines may have come online in the past three months.

According to BTC.com, Bitcoin’s two-week average hashrate has surpassed another important threshold, reaching 85 EH/s at around 19:00 UTC last Friday. At the same time, mining difficulty was adjusted to a new record of nearly 12 terahashes. Notably, both figures have jumped 60% since June 14. This summer, several new ASIC mining machines came to market, with an average hashrate of about 55 TH/s. Assuming that all of the 35 EH/s of new hashrate since mid-June came from these mining machines, a rough calculation shows that more than 500,000 of these mining machines have been connected to the Bitcoin network. These mining machines are produced by major manufacturers such as Bitmain, Canaan Creative, InnoSilicon, and MicroBT, and their prices range from $1,500 to $2,500. If more than 500,000 units are delivered as estimated above, these mining machine companies may have earned $1 billion in revenue in the past three months. In addition, according to the TokenInsight report, more mining machine suppliers are expected to enter the market in the coming months. With the sharp rise in Bitcoin prices, the mining machine market has seen a clear shortage of supply in the second quarter of 2019. Most mining machines from different manufacturers are severely out of stock, and pre-orders submitted in the second and third quarters will be delivered before the end of the year. (CoinDesk) [Original link]