Bitcoin mining got tighter on almost every front last week โ costs, power, infrastructure and hashrate.
#EMCDMiningDigest | Sep 14โ20 โ๏ธ
โข Bitcoin mining difficulty rose 4.16% at the Sep 19 retarget, from 127.45T to 132.76T.
โข CoinShares put listed minersโ weighted average Q2 cash cost at $75.5K/BTC vs. a $58.4K quarter-end price โ but results varied sharply. Bitdeer, HIVE, IREN and ABTC mined below their realised prices, while MARAโs cash cost reached $86,126/BTC against $70,315/BTC in realised revenue.
โข Bitdeer mined 1,310 BTC in August, +249% YoY, with self-mining hashrate at 79.9 EH/s. It ended the month holding 61
$BTC, down from 257, and signed a non-binding LOI for an initial 30 MW AI data center in Bhutan.
โข Ethiopia cut miners to 23% of contracted power after El Niรฑo reduced reservoir inflows by 20%. Miners generated 35% of the utilityโs revenue last fiscal year. EEP will reassess the restrictions in October and could cut supply further.
โข As of mid-September, Foundry USA and AntPool accounted for nearly 45% of Bitcoin hashrate. The network also saw three one-block reorgs since Aug 16 โ stale-block races, not attacks.