Provenance Blockchain raised $20 M in a new round of funding on 2019-04-09.

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Are Bitcoin miner pools a threat? Let's question this issue by learning step by step. Bitcoin miners have 2 incomes: 1- Block award 2- Transaction fee An example of a lottery can be given to easily understand the Block prize. Miners buy lottery tickets to win this prize. The more work they do (hash energy, the more power they get), the more tickets they can get. Thus, their chances of winning the lottery increase. However, it is still not guaranteed. Because the SHA-256 algorithm, which ensures bitcoin security, works randomly. Here the following problems arise: 1- Large miners want to minimize this risk. 2- They do not want to mine with small miners for months without earning any bounty. Because of this, the miners come together and try to win the prize together. After winning an award, everyone shares this award to the extent of their contribution (hashrate). Thus, instead of waiting for months, miners have a certain amount of income each month. The Miner pool is paid a fee for this operation. This system actually causes more efficient use of the energy spent. Miners don't try the same options when they miss the puzzle. They're all trying different options, so that the energy they use doesn't overlap. There are 2 benefits to this: 1- Large miners have a predictable income. This is very important for investment. 2- Small miners can also be involved in the game. This makes mining more decentralized. So what do miner pools control? The pools don't actually control hashrate. They only provide an operational service. If they go out of the service they promised, it's pretty simple for miners to switch to other miner pools. This actually creates a situation where miner pools compete with each other to satisfy their customers. #ContentStar# #Gate post Highlights# #HotTopicDiscussion# #BountyCreator# #GateLive# #NewsMessenger#

Bitcoin miner Iris Energy Limited (NASDAQ:IREN) recently announced that it has increased its total Computing Power to 9 EH/s, expects to reach 10 EH/s by May, and plans to expand to 20 EH/s by the end of the year. In addition, the Iris mining rig is ready to increase its efficiency to 21.9 J/t. Iris also said that an additional 50 megawatts of capacity will be added if Childress Phase 3 is completed later this year. By the end of 2024, this expansion will increase the company's data center capacity from 460 MW to 510 MW. The upcoming 50-megawatt addition is partly due to new substation designs, as well as improvements and efficiencies in the company's construction and acquisition processes. After Halving, miners are in a rough patch as their expected value drops to $48.62 after previously earning more than $100 per PH/s per day (hash price). To mitigate some of the losses, miners like Iris have expanded to provide artificial intelligence (AI) computing data. #ContentStar# #Gate post Highlights# #HotTopicDiscussion# #BountyCreator# #GateLive# #NewsMessenger#

Bitcoin Mining Difficulty Hits Record High Before Halving – What's Next? Bitcoin mining difficulty reached an all-time high in its last adjustment before the upcoming halving event. The halving will reduce block rewards from 6.25 BTC to 3.125 BTC for miners and affect miner profitability. Bitcoin's hash rate is also at a record high, demonstrating strong miner participation despite subsidy reduction. Bitcoin Prepares to Cut in Half: Difficulty Increases, Rewards Decrease Bitcoin's (BTC) mining difficulty has reached a new record high of 86.4 trillion, signaling increased competition among miners as the halving event approaches. This adjustment guarantees consistent block production times. The halving will halve block rewards, potentially affecting mining operations and network metrics. Hash Rate Surge: Miners Prepare Despite Halving Bitcoin's hash rate, a measure of the network's computing power, has reached an all-time high. This suggests that miners are making investments despite the upcoming halving, despite the drop in the block reward. However, the halving will likely reduce miner revenues in the short term. Halving Countdown: What to Expect? Bitcoin's halving is expected to occur on April 20. This programmed activity is designed to control Bitcoin's supply and inflation rate. Historically, halvings have been associated with significant price fluctuations, but they are not a direct cause. #ContentStar# #Gate post Highlights# #HotTopicDiscussion# #BountyCreator# #GateLive# #NewsMessenger# #BTC#