Fast Take
The Bitcoin community is experiencing a exceptional surge in its hash fee, an important metric that displays the computing energy devoted to processing transactions and sustaining the blockchain. In accordance with the newest Glassnode information, the 7-day transferring common hash fee has reached an astonishing 620 EH/s, nearing all-time highs.
Notably, the upcoming issue adjustment, scheduled for Apr. 10, is projected to exceed 3%, in line with Newhedge, additional reflecting the rising computational energy securing the community. This adjustment is especially vital because it precedes the much-anticipated Bitcoin halving occasion scheduled for Apr. 20, the place the block reward for miners will likely be decreased by 50%.
Marathon Digital Holdings CEO Fred Thiel shared a thought-provoking perspective throughout his look on Anthony Pompiliano’s podcast. Thiel means that sovereign nations at the moment are actively contributing to the worldwide hash fee surge, a development with doubtlessly vital implications.
Thiel defined:
“Soverigns who are interested in getting into the mining of Bitcoin initially for monterary reasons but really for cash reserve and treasury reasons and those are people who are willing to mine at potentially lower profits than businesses whose focus is generating a profit from Bitcoin mining”.
A compelling angle to contemplate is CryptoSlate’s evaluation of a possible hash rate correction following the halving, as older miners could turn into unprofitable and disconnected. Suppose a major correction within the hash fee fails to materialize. Might it’s attributed to sovereign nations participating in mining with out profitability considerations, presumably leveraging ample entry to cheap renewable power sources?
The submit Marathon CEO hints at sovereign contributions to Bitcoin’s burgeoning hash rate appeared first on CryptoSlate.
