The whole network computing power is new high. The new online bitcoin mining machine exceeds 100,000 units.

The continued surge in bitcoin prices has also led to the participation of more and more miners, which has allowed Bitcoin to create a new record for the entire network. According to data from the bitcoin mining mining authority, the average bitcoin mining hash value for the past two weeks has reached 71.43 (EH/s) per second, up from 64.49 EH/s on July 23. The threshold broke through Bitcoin's block height of 586,672 at 2:52 UTC on Monday, which is a difficulty of mining - an increase of 6.94EH/s. The bitcoin computing power has increased by 10.78% since mid-July.

Bitcoin mining difficulty is a measure of how difficult it is for Bitcoin computing to compete for block rewards. The difficulty of the Bitcoin computing software to generate new blocks is adjusted every 2,016 blocks - approximately every 14 days - to ensure that the bitcoin block production time remains in the next cycle for about 10 minutes.

Assume that the additional 6.9EH/s (or 6.9 million tera hashes per second, TH/s) computing power comes from powerful ASIC miners, such as BitMiner's AntMiner S17 or Shenma's WhatsMiner M20S, both of which have mining efficiencies It is 55TH/s and has been on the market recently.

This means that more than 100,000 top ASIC bitcoin miners may have been launched in the past two weeks. In addition, given that these products are priced at least $2,000 each, this is equivalent to earning about $200 million in revenue for major miners.

The continued interest in bitcoin mining is at a time when the price of cryptocurrency appears to be at an all-time high, and the southwestern provinces of China, no matter how far away, will lead to a significant reduction in domestic hydropower costs as the rainy season approaches. - China is reported to account for 50% of global mining activity,

Earlier this year, some experts predicted that the bitcoin hash rate will exceed 70EH/s this summer. It needs to be clear that at several single points in time, the bitcoin hash rate has exceeded this level in June, and even reached 80EH/s around August 1.

However, today, the average computing power of the Bitcoin mining network for two weeks can be kept above the threshold of 70EH/s for the first time. Therefore, the difficulty of mining Bitcoin has also created a new record of nearly 10T.

Bitcoin mining market changes

In the case of rising interest in bitcoin mining, the Bitcoin mining machine market has undergone significant changes, and top miner manufacturers are racing to produce more powerful equipment.

For example, in Bitland's 2018 IPO, the Beijing-based Bitcoin mining giant claims it has a 70% market dominance. Now, it may face fierce competition from competitors, and some believe that these competitors can ship more top products with higher profitability.

Some analysts said that the production capacity rankings of major mining machine manufacturers and their flagship products have changed over the years. From 2017 to 2018, Bittland topped the list with its AntMiner S9 series of miners, followed by the Avalon 8 series of machines. At the core, the Shenma mining machine of Yibang and former Bit Continental Design Director was ranked third.

However, from January to June this year, the mine delivery capacity ranking has been re-adjusted, now MicroBT's WhatsMiner M20 series tops the list, followed by the S17 series of miners in Bitland, followed by the core movement, Jia Nan Zhi Zhi and Yi Bang.

According to the bitcoin miner profit tracking website of F2pool, Bitian's flagship product, the Ant Mine Machine S17 Pro, ranks third in terms of mining profitability, second only to Bitfury's Tardis and Shenma Mining M20S. According to information published on the two companies' websites, the cost of the Shenma M20S is about $3,000, while the cost of the Ant Mine S17 Pro is about $4,000.

Although the orders for these flagship machines are in November and December this year, the founder of MicroBT, Yang Zuoxing, said that the bottleneck in the production capacity of the mining machine lies in the supply of chips provided by the suppliers.

For example, Bit Micro is a 10-nm chip used by its Shenma miner M20 series, which is more usable than the more advanced 7-nm chip used by Bitland for its ant miner S17 series devices. More affordable.

Although Bitcoin has been relying on chips from Taiwan Semiconductor Manufacturing Corporation (TSMC), Bit Micro has moved from TSMC to Samsung's flagship product earlier this year. Both TSMC and Samsung have estimated in their recent second-quarter earnings that demand for bitcoin mining chips will return in the third and fourth quarters of this year.

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