This Week in Crypto: Bitcoin Mining Power Sets New Record
This Week in Crypto – August 9th, 2019
Bitcoin mining power has set new records this week, a hacker has released hundreds of KYC photos, reportedly from Binance, many countries are implementing suggestions by Financial Action Task Force, and Coinbase prevented a sophisticated phishing attack.
Bitcoin mining power has set new records this week. Computing power for the Bitcoin network has stayed above 70EH/s quintillion hashes per second on average over the past two weeks, and just this week it surpassed 80EH/s quintillion hashes per second for the first time.
Tens of thousands of ASICs are being switched on to keep up with the block difficulty. Some of which may be from Blockstream, who just announced this week the launch of a mining farm and Blockstream mining pool.
The increase in computing power seems to be boosting investor confidence and classifying Bitcoin as a safe haven, especially with the devaluation of the Chinese Yen.