[PoW Round-Up] Mining to stack sats through a hard time
BTC and ETH mining revenues down, Ethereum difficulty bomb to be delayed, and more.
Learn about industry news, development updates, community happenings, and other aspects of the PoW world!
As the price went down significantly and some old generation machines were phased out, the Bitcoin network just experienced a -2.35% difficulty change on 2022–06–23. The mining revenue went down with a -30% change from $0.13 per 1 TH/s to $0.09. The current revenue level is the same as that we saw in October 2020, hitting a 20-month low.
Ethereum’s hashrate is now 868 TH/s. It dropped 23% from its peak of 1126 TH/s marked on 2022–05–13. The mining revenue is now around $0.013 per 1 MH/s, while it was at $0.022 two weeks ago. As the sharp decrease happened, some less efficient GPUs are no longer making a profit now. Meanwhile, ASICs and the latest GPUs are still running stably and are bringing miners profits.
Dev and network
The Gray Glacier Upgrade has been announced and is scheduled to happen on 2022–06–29. This upgrade will delay the difficulty bomb by 700000 blocks further, until the middle of September 2022.
Ethereum’s testnet Kiln, Ropsten and Rinkeby are now deprecated, while Goerli and Sepolia, will be maintained in service. Read more on this announcement.
A post recapping Litecoin’s noticeable development progress in the past two years has been shared in the community, explaining Litecoin has been exploring its own road which differs from the initial one, similar to Bitcoin’s.
Litecoin v0.21.2.1 has been released to fix a wallet bug of stealth address generation for previously upgraded wallets. Learn about the new release here.
Xaya Core 126.96.36.199 has been released, synchronizing with Bitcoin v23.0.
Application and adoption
SkyBridge plans to file again for spot Bitcoin ETF this week.
The Strike API Documentation and Dashboard are now public, allowing users to build payment experiences on the Bitcoin network.
Multisig is now supported in the Headless Wallet. For more information, please read their announcement.
HNS Chat, an end-to-end encrypted messaging platform, is now open sourced.
Community and more
Bitcoin is getting stronger. Learn about Bitcoin’s 12 years of development with this 60s video.
ETHNewYork will commence this Friday. This event, organized by ETHGlobal, is a major hackathon event happening from 2022–06–24 to 2022–06–26, providing the community an opportunity to build the Ethereum ecosystem.
The May issue of Decred Journal is out. It summarizes core software releases, GoDCR, new proposals, and hashrate changes during the month.
The DigiByte Alliance has been granted 501(c)(3) status by the IRS, and is now recognized as a tax exempt public charity. This achievement could facilitate the acceleration of adoption and innovation of the DigiByte blockchain.
Nervos is now presenting the BlockJam2022, an online gaming conference starting June 17th. Insightful talks and sessions by gaming experts, and a 14-day hackathon with a prize pool of $50,000+ are scheduled.
Kadena announces a new series known as Project Spotlight to highlight projects being built on the Kadena blockchain. The series starts with Lago Finance which develops stablecoins.
The PoW Round-Up is our bi-weekly report on the major news and mining insights in and around the Proof of Work ecosystem.
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