600,000 new miners connected to the Bitcoin network in three months

Since mid-June, cryptocurrency mining complexity and hashrate have increased by 60%. Such dynamics may be associated with the release of more powerful equipment.

Over the past three months, over 600,000 new powerful miners have connected to the Bitcoin network, CoinDesk writes. The publication indicates that since mid-June, the complexity and hashrate of the first cryptocurrency has increased by 60%, while several new ASICs with an average power of 55TH / s have been released since the beginning of summer.

The production of such miners is carried out by Bitmain, Canaan, InnoSilicon and MicroBT, the average price of one device is about $ 1500–2000. The proceeds of manufacturers over the past three months could be about $ 1 billion, but it is worth considering that some companies place equipment on their own sites.

“The mining market experienced a significant increase in the second quarter of 2019. There was a severe shortage of most miners from various manufacturers, and the delivery of equipment that was ordered in the second and third quarters is expected before the end of this year, ”TokenInsight analysts said.

They added that while maintaining the current dynamics, the mining complexity in the next three months will exceed 15 trillion (now it is 12 trillion), and the hash rate will be 100 EH / s (currently 86 EH / s).

Earlier, Fundstrat co-founder Tom Lee said that mining is a profitable business. According to Lee, the cost of extracting one Bitcoin on a Bitmain Antminer S9 device at an electricity price of $ 0.06 per kWh is about $ 7.3 thousand. At the same time, the average market rate of cryptocurrency is about $ 10.3 thousand.