15th November marked a significant improvement in Bitcoin hash rates, at 184 exahash per second. With a 17.19% jump, Bitcoin hash rates are now inching towards an all-time high. May 9, 2021, holds the previous record at 191 EH/s. The present hash rate is just 3.8% less than the all-time high.
On the other hand, Ethreum’s has rate has continued to soar steadily after surpassing its all-time high. It continues to set records and is now 932 TH/s. With these results, Ethereum is now the third most profitable mining network. Microbt Whatsminer M30S++, the Ipollo B2, and the Bitmain Antminer S19 Pro are the three most profitable Bitcoin miners. These developments in hash rates are coming across as great news for miners around the world.
In recent times, crypto mining has come to the radar of various governments. Bitcoin mining especially is extremely power draining, making it a nightmare for power supply departments to account for illegal Bitcoin mining. Bitcoin miners would often mine illegally using domestic power supply to escape the tax of mining power supply. Such situations make it very difficult for governments to continue providing a steady electricity supply to all domestic units. From Kazakhstan to Iran, many countries are facing electricity shortages due to illegal Bitcoin mining.
As the situation stands now, governments will have to make tough calls about Bitcoin miners and its consequence on the crypto market. Unless a suitable alternative energy source like nuclear power is viable for mining, this problem will continue.