As of December 16, 2024, the cryptocurrency mining industry continues to experience significant developments. Below is an overview of the latest statistics and trends in Bitcoin and altcoin mining.
Bitcoin Mining Statistics
- Hashrate and Difficulty: Bitcoin’s network hashrate has reached approximately 610 exahashes per second (EH/s), reflecting a 135.29% increase from the end of 2022. This surge indicates heightened network security and increased miner participation. Blockchain
- Miner Revenue: Daily revenue for Bitcoin miners stands at around $45.48 million, marking a 28.88% decrease compared to the same period last year. This decline is attributed to factors such as increased mining difficulty and reduced block rewards.
- Energy Consumption: The annualized energy consumption of the Bitcoin network is estimated at 176.62 terawatt-hours (TWh), surpassing the annual energy usage of several nations, including Egypt, Malaysia, and Poland.
Altcoin Mining Landscape
While Bitcoin remains the dominant cryptocurrency for mining, several altcoins offer profitable opportunities:
- Ethereum (ETH): Following its transition to a proof-of-stake (PoS) consensus mechanism, Ethereum no longer relies on mining, leading miners to seek alternatives.
- Kaspa (KAS): Kaspa mining has gained popularity, with certain mining rigs earning substantial daily profits.
Top 5 Mining Hardware by Daily Profitability
Based on current market conditions, the following are the top five mining units in terms of daily profitability:
- Bitmain Antminer S21 Hyd (335Th): With a hash rate of 335 terahashes per second (TH/s) and power consumption of 5,360 watts (W), this unit offers high efficiency.
- MicroBT Whatsminer M63S: Delivering a hash rate of 390 TH/s at 7,215 W, it is among the most powerful miners available.
- Bitmain Antminer S19 XP Hyd (255Th): This model provides a hash rate of 255 TH/s with a power consumption of 5,304 W.
- Canaan Avalon Made A1366: Offering a hash rate of 130 TH/s at 3,250 W, it balances performance and energy efficiency.
- MicroBT Whatsminer M50S: With a hash rate of 126 TH/s and power consumption of 3,276 W, it is a competitive option for miners.
Note: Daily profitability is subject to change based on factors such as cryptocurrency prices, network difficulty, and energy costs.
Mining Pool Hashrate Distribution
The distribution of hashrate among mining pools is a critical factor in network decentralization and security. As of the latest data, the top mining pools and their respective hashrate contributions are as follows:
- Foundry USA: 28.24% of total network hashrate. Hashrate Index
- AntPool: 25.29% of total network hashrate. Hashrate Index
- ViaBTC: 14.12% of total network hashrate. Hashrate Index
- F2Pool: 10.1% of total network hashrate. Hashrate Index
- Binance Pool: 4.12% of total network hashrate. Hashrate Index
Note: Percentages are subject to change based on real-time network conditions.
Industry Trends and Developments
- Post-Halving Challenges: Following the recent Bitcoin halving event, miners have experienced reduced block rewards, intensifying the need for efficient hardware and low-cost energy solutions.
- Geographical Shifts: Miners are relocating operations to regions with favorable energy costs and regulatory environments to maintain profitability.
- Integration with AI: Some mining companies are diversifying into artificial intelligence (AI) services, leveraging their high-performance computing infrastructure to meet the growing demand in the AI sector.
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