Bitcoin Mining: Between Underground and Expansion in This Weekly Roundup

A new edition, number 68 and the last of this year 2021 of our weekly summary is presented to readers. Important facts stand out from this, including the expansion of the Bitcoin mining business regardless of legality or illegality. It is a busy week despite coinciding with the Christmas holidays.

Among other relevant news during the last 7 days, the millionaire purchase of equipment by a mining company stands out. It is Stronghold Digital Mining. On the other hand, the Hive Blockchain firm took center stage. This would now be in a transition to decrease the mining of Ether and focus only on the main one of virtual currencies.

Likewise, it is highlighted that this week there was a new adjustment of the difficulty of mining Bitcoin. It is a new increase, which indicates health in the Blockchain network of that cryptocurrency. If you want to know more of the 5 most important news of the week in this business, we invite you to continue reading.

Top 5 Bitcoin Mining News of the Week

As usual, in this summary of news about Bitcoin mining, the most important information among the various portals is selected. They are presented in the form of a synthesis. In this way, readers are kept abreast of the most relevant events of the week in the mining business. These are the headlines of this 68th edition:

Underground mining in China keeps that country at the top. New adjustment of the difficulty to mine Bitcoin was on the rise. Stronghold Digital Mining announces millionaire purchase of ASICs. Argo Blockchain is among the favorite shares in Fidelity. Hive Blockchain will mine more Bitcoin. and less Ether.

Clandestine mining in China keeps that country at the top

While many may want to see digital mining in China as a bygone chapter, sealed and forgotten, it is not. Many miners complied with the regulations of the authorities and left for centers such as the United States, Iran, Russia and South America. Another group chose to shut down their equipment and sell it to pursue other businesses.

But a third group remains in the shadows. These are clandestine miners, who are exposed to harsh punishments if discovered. In a recent CNBC work, it shows what life is like for these daring entrepreneurs. According to that publication, 20% of the global hashrate remains in the Asian country.

Chinese miners use various tricks to avoid capture by the authorities. Some of them are to spread their equipment in different places to avoid being detected by consumption. In parallel, they take precautions using VPNs. Other measures are to avoid the unmistakable noise of the equipment, for which they use various modalities such as encapsulation and mining by means of immersion in mineral oil.

New Bitcoin Mining Difficulty Adjustment Was Higher

As expected, the new difficulty adjustment of the Bitcoin Blockchain for mining that currency, occurred on the upside. This is the 11th increase in complexity of the last 12 produced since the recovery of the hash power of the most popular of digital currencies began. All this as a result of the aforementioned mining ban in China.

Now, with this new adjustment, the difficulty reaches 24.27T, getting closer and closer to the all-time high of 25.05T. The latter was reached in mid-April just before Beijing’s ban. In this way, a year that could have been catastrophic for the business is closed. However, his maturity and strength were demonstrated by his quick recovery.

The next adjustment of this complexity index will be approximately 12 days according to BTC.com. It is expected that it will become a barely perceived decrease in difficulty by 0.46%. Meanwhile, the hash power of these cryptocurrencies stands at 170 EH / S at the time of writing.

Bitcoin Mining: Between Underground and Expansion in This Weekly Roundup