Bitcoin Hashrate Hits 972 EH/s as US Miners Capture 30% Market Share

Bitcoin's hashrate has reached a new record of 972 exahashes per second (EH/s), reflecting increased investment in mining infrastructure despite challenging market conditions.

Mining difficulty has also risen by 6.81% to 121.51 trillion, highlighting the competitive environment for miners. US-based miners now account for 30% of the global hashrate, an increase of 800 basis points since the last halving event, with Foundry leading at 32.33% of the market share.

Despite the rise in hashrate, miners are facing tighter profit margins due to Bitcoin's declining price and increased network competition. Marginal revenue per megawatt-hour for efficient mining rigs has dropped from around $200 to $150 this year. Additionally, hashprice has fallen by 11.15%, and onchain fees now make up just 0.89% of daily revenue.

Solo mining is gaining attention, with hobbyist rigs and smaller miners occasionally achieving block rewards. While this trend supports decentralization, large mining pools remain dominant in the industry.

This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz.