Surprise! The difficulty has adjusted once again to 50.6462 T with a decrease of 3.26%
Last week, we announced the return of our daily auctions. Head over to auctions.rigly.io to see live bidding on forward-dated hash rate delivery. Since then, we have had some useful bug reports such as unusable email clients due to an exorbitant amount of bidding updates which we promptly addressed.
Every day, you can expect to see daily auctions posted.
I know you all came here for hashprice updates, but BTC/USD is pumping and deserves an honorable mention. Since Blackrock announced their filing for a bitcoin ETF, price is up around 17% and is now sitting at around $30k.
- 250 sats/TH/s/day
Hashprice has been holding steady at ~250 sats/TH/s/day for the last week.
After the ordinals and BRC-20 fiasco back in May, we saw a drop all the way from a high 460 sats/TH/s/day down to where we are now. The steady decline after we stabilized from the spike is due to large amounts of new hashrate coming online.
In other news, a report from Luxor shows there's an active derivatives market for hashrate.
On June 23, spot hashprice was at $75.2/PH/s/Day, yet miners were still willing to sell their hash for $3 less in order to hedge against hashprice volatility.
However, in the same report, we see Luxor's Forward Hashprice Curve showing that people are willing to pay more for forward-dated hash than the spot. Likely due to the expected downward difficulty adjustment as explained by Ben Harper.
Following the decline in hashprice and the heatwave currently hitting Texas, network hashrate is down ~10% from the last difficulty adjustment.
- Network Hashrate: ~360 EH/s
With a few consecutive increases in difficulty, it's about time we lay off the gas and adjust back down.
- May 17 +3.22%
- May 31 +3.40%
- June 14 +2.18%
- June 28 -3.26%
Transaction fees remain variable as usual:
Over the last seven days fees have ranged from 2.39% (~6 sats/TH/s/Day) of the block reward up to 10.31% (34 sats/TH/s/Day).
In Other News
- You can now pay for a day at the spa with bitcoin and enjoy ASIC heated pools - Decrypt.
- Hut 8 and USBTC merge to become one of the largest public bitcoin miners - Decrypt
- CleanSpark "expected to add just under 1 exahash per second (EH/s) to" their total hashrate - CleanSpark
- Speculation mounts BlackRock bitcoin ETF will get green light - Financial Times
- Nevada petitions federal court for receivership of Prime Trust - Fortune
- Riot partners with MicroBT to on-shore supply chain - Blockworks
- Hut 8 receives $50M credit line from Coinbase - Bloomberg
- Samsung Looks to Challenge TSMC - Bloomberg
- Bitcoin miners go offline due to Texas heat wave - Bloomberg
- Miners Sent Over $1B Bitcoin to Exchanges - Coindesk
Interested in owning your own bitcoin miner?
Hashbranch helps customers find quality bitcoin miner hosting companies
Tell 'em Rigly sent you
Happy Thursday! Thanks, Team Rigly.