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Bitcoin's Price Is On The Rise, But Miners Aren't Picking Up Speed
Summary: Bitcoin's hash rate has remained stable, even as the currency's price has spiked in recent months, Glassnode data shows. When Bitcoin's price increases, it is often expected that hash rate would also increase as miners are eager to mine more blocks and collect more of the currency, increasing their profit margins. At the time of ...
Bitcoin's hash rate has remained stable, even as the currency's price has spiked in recent months, Glassnode data shows.
When Bitcoin's price increases, it is often expected that hash rate would also increase as miners are eager to mine more blocks and collect more of the currency, increasing their profit margins. At the time of writing Bitcoin is trading at $11,883.
Bitcoin's price quickly broke past previous resistance at $10,00 in a recent rally, but hash rates have not responded. Miners may not be working more quickly because of the ongoing power struggle at leading equipment supplier Bitmain which has caused delayed product shipments, as reported by Cointelegraph.
By Emily Mason
Tags: Bitcoin Mining,Bitmain
Link: Bitcoin's Price Is On The Rise, But Miners Aren't Picking Up Speed [Copy]
