The leaders of public mining companies believe that the growth of the bitcoin hash rate will depend on the BTC rate and infrastructure development.
Samir Tabar, CEO of public mining company Bit Digital
informedthat the high hash rate that the community is now seeing is good for Bitcoin.
“The more computing power a network serves, the more secure it will be and the more transactions it will be able to process.”
The head of the Argo Blockchain mining company, Peter Wall, said he was not surprised when the bitcoin hashrate approached 200 EH / s. He added that even with the recent events that negatively affected BTC mining, including the political upheaval in Kazakhstan, the hash rate will continue to grow every month in 2022.
“The Argo Blockchain mining margin in 2021, which is our revenue minus our direct costs, was over 80%. It has been a very good year for miners. In 2020, when the price of BTC was much lower, our margin was 41%. This year, I think we will still see high margins despite the recent drop in the price of bitcoin and the increase in hash rate.”
The founder of the public crypto-currency company Core Scientific noted that the BTC hashrate had already grown after the mass exodus of miners from China.
“A year ago, the Bitcoin hash rate was approximately 143 EH/s. After the mining ban in China, it dropped to 63 Eh/s. Today, the hash rate has risen to around 198 EH/s. This gives three important numbers at once. Firstly, this is an increase in the hash rate in the Bitcoin blockchain by 130 EH/s. Secondly, this is the introduction of 130 EH/s of a new hosting infrastructure, first of all, the deployment of new generation equipment. And third, this deployment has taken place in geographies that use much cleaner energy than the “coal” energy used in China.”
Core Scientific CEO Michael Levitt has stated that the global BTC hash rate will continue to grow at an aggressive pace. At the same time, he noted that the growth rate will depend on the bitcoin exchange rate and infrastructure development.
Last year, after a mining ban in China, Bitcoin hashrate reached spring levels again in October. Recently, the Central Bank of Russia called for a ban on cryptocurrency mining in Russia. He explained this decision by concern for the state of the power grid, the environment and the economic development of the country. At the same time, Vladimir Putin noted that Russia has a number of advantages in cryptocurrency mining.
Source: Bits
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