ChainCatcher news, according to Bitcoin.com, on October 25, the Bitcoin network hash rate surged to a historic high of 736.81 exahashes per second (EH/s), bringing Bitcoin closer to the expected zettahash era.

ChainCatcher news, according to Coindesk, based on data from Glassnode, the seven-day moving average of Bitcoin's hash rate has reached a historic high of 703 EH/s (currently at 725.20 EH/s, peaking at 791.62 EH/s), marking the first time the network's hash rate has surpassed 700 EH/s. Since the halving event in April, Bitcoin's hash rate has grown by nearly 13%.Data from Bitcoin mining analyst Sebastian Ski shows that in September, 12 leading publicly listed mining companies contributed 28.9% to the total hash rate, equivalent to over 200 EH/s. Their contribution to the hash rate has been steadily increasing month by month, having jumped nearly 10% since October 2022. Ski suggests that "publicly listed mining companies are capturing market share from other miners globally."Ski also mentioned that the companies with the largest hash rate growth over the past 12 months are: CleanSpark (CLSK), MARA Holdings (MARA), Riot Platforms (RIOT), and IREN. This aligns with the monthly production growth of leading Bitcoin mining companies in September. Weaker miners will have to exit the network, while the companies with the lowest energy costs or the strongest balance sheets will continue to increase their share of the network.

ChainCatcher news, CryptoQuant co-founder Ki Young Ju expressed his views, pointing out that the dominance of Bitcoin hash power is shifting towards American mining companies.According to Ki Young Ju, Chinese mining pools currently operate 55% of the network hash power, while American mining pools manage 40% of the hash power. He further explained that American mining pools primarily serve institutional miners in the U.S., while Chinese mining pools support relatively smaller Asian miners.

ChainCatcher news, according to Unisat Explorer data, the current total hash rate for Fractal mainnet merged mining and permissionless mining has exceeded 50 EH/s, equivalent to 50000 PH/s. Based on an average block time of 30 seconds, Fractal produces approximately 72,000 FB per day. According to Fractal's tokenomics, for every three mined blocks, two blocks will be from permissionless mining, while one block will be from merged mining, with permissionless mining yielding about 48,000 FB distribution daily.The current total hash rate for permissionless mining is reported at 6400 PH/s, with 1 PH hash rate able to mine approximately 7.5 FB daily, resulting in about 225 FB monthly. The current monthly rental price for hash rate is approximately 3000U per PH, and the break-even price for renting hash rate to mine FB is $13.3. The fully circulated price for 210 million FB corresponds to a market value of about $2.8 billion.

ChainCatcher message, according to Luxor's hashrateindex.com data, Bitcoin's hash rate is currently hovering around 660 EH/s, just 17 EH/s lower than the peak of 677 EH/s recorded on July 25, 2024.Analysis indicates that although mining difficulty was recently reduced by 4.19%, current forecasts suggest that the difficulty reduction may become a thing of the past. On August 28, Bitcoin mining difficulty is expected to increase by 4% or more, which could push it to a historical high of 90.67 T.

ChainCatcher news, CryptoQuant founder and CEO Ki Young Ju stated that the United States controls 35% of the Bitcoin hash rate, and Russia seems to be taking action to keep up with the U.S., with national-level FOMO heating up.ChainCatcher previously reported that according to Jinshi reports, TASS news agency disclosed that Russian President Putin signed a law to legalize cryptocurrency mining in Russia.

ChainCatcher news, according to on-chain analyst @ali_charts monitoring, the Bitcoin Hash Ribbon indicator shows that the miner "surrender" has ended, indicating that the momentum of Bitcoin price will turn from negative to positive.

ChainCatcher message, according to data from CryptoQuant, the Bitcoin network's hash rate has fallen to its lowest level since December 2022, during the peak of the FTX collapse and the depths of the bear market. The current decline in Bitcoin's real hash rate is -7.6%, which may indicate that the price of decentralized assets has bottomed out.Other indicators such as Bitcoin exchange reserves, the Miner Position Index (MPI), and Bitcoin miner reserves also support the view that the market has bottomed, all showing signs of low selling pressure.

ChainCatcher news, according to Bitcoin.com, Bitcoin mining company Marathon Digital Holdings has announced a new 2 megawatt (MW) pilot project aimed at using the heat generated from Bitcoin mining operations to provide heating for a community in Finland with 11,000 residents. This initiative marks Marathon's first digital asset computing operation designed for a district heating solution.Reportedly, the core of the project is to heat water at a centralized location and distribute it to the local area through underground pipes. Marathon is exploring ways to monetize its computing power by generating recovered heat instead of relying on fossil fuels.

ChainCatcher news, CryptoQuant CEO Ki Young Ju tweeted that the upward trend of Bitcoin's hash rate for the past 18 months has been broken, indicating that some miners are exiting.

According to ChainCatcher, as reported by Bitcoin.com, Foundry USA has been the largest mining pool in the past three days, with a hash rate of approximately 95.89 EH/s, accounting for 33.26% of the global Bitcoin network hash rate. Following closely are Antpool with 15.97% of the global hash rate and Binance Pool with 15.54%. F2pool (14.22%) and Viabtc (9.41%) rank fourth and fifth, respectively. There are approximately 12 known mining pools, and the top five mining pools have controlled 88.4% of the global Bitcoin hash rate.Additionally, according to macromicro.me, based on electricity consumption and daily Bitcoin issuance data provided by Cambridge University, the estimated production cost of Bitcoin is still higher than its current spot market value. The average cost to mine a single Bitcoin is approximately $24,119, while its spot market price is about $21,901. (Source link)