Rigly Newsletter for Epoch 408

We entered the new difficulty epoch on Saturday, December 23rd, block height 822,528. Bitcoin network difficulty is now 72.01 trillion (+6.98%). We saw another great rise in transaction fees this epoch.

We entered the new difficulty epoch on Saturday, December 23rd, block height 822,528.

Bitcoin network difficulty is now 72.01 trillion (+6.98%). We saw another great rise in transaction fees this epoch.

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Network Data

Hashprice

  • 208 sats/TH/s/day
source: https://data.hashrateindex.com/

Network Hashrate

  • Network Hashrate: ~544 EH/s
source: https://data.hashrateindex.com/

Difficulty Adjustment

  • Epoch 405 / November 11 +3.55%
  • Epoch 406 / November 25 +5.07%
  • Epoch 407 / December 9 -0.96%
  • Epoch 408 / December 23 +6.98%
  • Epoch 409 prediction at 73.77T (+2.45%) (Source: btc.com)

Transaction Fees

Transaction Fees: 17.24% of block reward (!)

source: https://data.hashrateindex.com/
🚀
Dec 26th fees were 17.24% of the block reward with a hashprice of 208 sats/TH/s/day. Wow!

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Worthwhile Reading

Ordinal Scam Theory: Exposing Inscription Fee Indifference \ stacker news ~bitcoin
Images aren’t causing the high fees, VC-fueled BRC-20 shitcoins are, and the fee-market incentives are broken. It’s getting worse, not better. Let’s dig in, there are solutions that don’t break Bitcoin. [11 comments]
Miner Weekly: Bitcoin Mining Hashcost, Explained - TheMinerMag
Just as hashprice captures bitcoin’s daily mining revenue in dollars per PH/s, hashcost shows how much it costs to operate each PH/s.
HIVE Joins Bitcoin Mining Arms Race, Buying 1.4 EH/s of S21 - TheMinerMag
Canada-based HIVE Digital is the latest public mining company to join the arms race of buying the next generation of bitcoin miners.
Bitcoin Mining Difficulty Sets ATH as Hashrate Tops 525 EH/s - TheMinerMag
Bitcoin’s mining difficulty has set a new record high, jumping above 70 trillion for the first time in the last adjustment in 2023.

Happy Tuesday!

Thanks for reading all the way,

Team Rigly

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