Bitcoin’s (BTC) hash rate surged 17% to an all-time high of 361.28EH/s on Jan. 6 from around 233 EH/s recorded on the same day — the second biggest one-day increase in the past year.
It has since retraced to 269.56 EH/s, as of press time.
Daily hashrate estimates are meaningless!It's not just me, it's hundreds of people who have said this, and still, we have the same speculation about what happens in a two-day interval that ussualy means zero!
To understand simply why this thing is meaningless, you can take a look at what websites say about the daily hashrate:
Blockchain 267exahash on 6th , 270exa on the 7th
Bitinfocharts 268exahash on the 6th, 302exahash on the 7th
It all depends on your start counting the day, if you are unlucky and there is a large time gap between blocks right in that interval your daily count in Australia will end up 20% lower than the daily count for the same day in UK or 30% up if you're lucky.
MacroMicro also suggested that the average cost of mining BTC was greater than the asset’s spot price.
Yeah, the average cost of mining BTC, the press still keeps on doubling down on this estimate like it would mean something.
For the average to be at 19k it would mean in order to compensate large farms that are mining are 3-5 kwh range you would have to have thousands of small miners mining at a loss at 20cents/kwh and actually have one huge of a pie in the global hash rate!
