Bitcoin mining week: from the dispute at Bitmain to the new purchase of Riot Blockchain

This week, Bitcoin’s mining news has been abundant. We present you a summary of the five most outstanding ones.

We present the last Sunday summary of 2020, about the five most important Bitcoin mining news of the week. The business of extracting crypto-currencies continues to generate information of great impact. This suggests that the dynamics of 2020 will continue in 2021.

The projections of most analysts and news portals, see 2021 as a year of great advances for mining. This is expressed in many examples, of which we can highlight the announcement of the manufacturer Bitmain that it does not have offers of machines until July.

For its part, Bitcoin’s hashrate could grow dramatically during 2021, continuing the „Darwinian struggle“ among the miners. A race for survival that makes Bitcoin an increasingly hard to get and therefore more expensive asset on the market.
Top 5 Bitcoin mining news of the week

As usual, in CriptoTendencia there is a summary with the five most important news of the week related to Bitcoin mining. Although the information was abundant, these five are the ones with the greatest impact:

Bitcoin miners show a strong saving trend.
Riot Blockchain makes new purchase of 15,000 Antminers from Bitmain.
Bitmain’s internal conflict concludes with an agreement between the parties.
Daily income of the miners remains at an all-time high.
Bitcoin Hashrate approaches its peak again.

The Bitcoin miners‘ thrifty trend

According to studies from the analysis and statistics site, Glassnode, the Bitcoin miners, maintain a thrifty trend. That is, the owners of the mining farms are selling only the necessary amount of Bitcoin on the exchanges. Covering the operating costs and nothing else seems to be the current attitude.

In the past, miners made massive sales when they thought Bitcoin had gone too high. So, before the price went down again, they proceeded to liquidate their crypt-currency holdings. Now, however, it seems that they’re playing at speculation and not being scared off by price corrections.

One of the reasons for this is the unstoppable growth of the demand for the pioneer cryptomone. The large institutional investors and companies, contrary to lowering the supply, continue to drive it, which will increase the value of the digital currency.

Riot Blockchain makes new purchase of 15,000 Antminers from Bitmain

The arms race is not only among mining machine manufacturers, but also among large customers. Thus, recently it was known that Bitcoin’s mining company, Riot Blockchain, made a new millionaire purchase.

This North American company, listed on Nasdaq, announced the purchase of some 15 thousand machines from the Asian company Bitmain. This closing of the year with a golden brooch for the company, will allow it to grow 65% in its computing power. It should be noted that the cost of the equipment amounted to $35 million U.S. dollars.

The new equipment purchased all belong to the S19 series, with 3,000 of them divided into S19 Pro and 12,000 S19j. The new miners, they explained, will be deployed from May to October next year 2021. The company estimates that their computation will increase from 2.3 EH/s to 3.8 EH/s and energy consumption will reach 12 megawatts.

Bitcoin miners show a strong saving trend

Bitmain’s internal conflict concludes with an agreement between the parties

One of the most dramatic conflicts in the world of Bitcoin mining seems to end with the news of a deal this week. It is the internal dispute of the mining equipment manufacturer Bitmain, which has been going on for more than a year.

According to the news portals, the fight for control of the firm between its founders Jihan Wu and Micree Zhan ended in an agreement. The agreement would have been the payment of 600 million dollars by Jihan Wu, while Zhan assumed control of Bitmain’s operations.

The agreement also contemplates that Wu will leave the company, taking over the mining pool Wu will also be left with the company’s mining centers abroad. Micree Zhan will stay with the mining centers inside China and with the Antpool pool. Will they be satisfied or will the fight continue?
Bitcoin’s recovery of global computing power continues this week and is motivated by the booming development of mining and the price of pioneering cryptomone. Source: Blockchain.comThe recovery of Bitcoin’s global computing power continues this week, and the