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[PoW Round-Up] Old-gen Bitcoin rigs reaching breakeven prices, Ethereum focusing on testing the Merge

Mining revenues dropping sharply, hashrate ATHs, and more network updates.

Learn about industry news, development updates, community happenings, and other aspects of the PoW world!

Mining industry

  • Bitcoin

Mining revenue has been dropping sharply following the market crash. The price of BTC once went down below $30,000, while another difficult adjustment happened with a +4.89% growth. The unit revenue reached $0.12 per TH/s, which is the same level as that around 16 months ago.

The network hashrate keeps a climbing trend as new miners have been continuously shipped over time. The combination of factors also causes S9 and other old generation machines of similar levels to hit their breakeven prices. Generally, the main models are still bringing significant profits though the margin has been narrowed, as shown in the following chart. Please view our Popular Miners page to learn about the latest breakeven prices of other machines.

  • Ethereum

Despite getting rewards from the minings of several high fee blocks, the Ethereum miners also suffered from the fall in the market. The unit revenue has dropped to $0.03 per 1 MH/s, compared to $0.04 two weeks ago.

The mining competition is still high, as the latest ATH of hashrate has reached 1,116 TH/s on 2022–05–11, while the ATH of difficulty at 14.43 P on 2022–05–09.

The difficulty bomb will also play a factor to affect mining activities gradually. To learn more, you may check this link which analyzes blocks per week as an indicator of the difficulty bomb.

  • Industry news

To learn more about the mining field, we recommend you to read our Mining Weekly News.

Dev and network

  • Ethereum

Tim Beiko shared his latest post, updating the progress of the Merge preparation. Currently, well-done maintenance shadow forks, merge tests on clients, and smooth deployments across testnets are the aspects waiting for completion. Currently, the mainnet shadow-fork-4 has been completed with satisfactory results.

The latest Core Devs Meeting has decided to focus on the Merge. To learn about the latest progress on the Merge, please stay tuned for the coming Core Devs Meeting #138 scheduled on 2022–5–13.

  • Litecoin

After the completion of signaling, Litecoin 0.21.2 has been released with MWEB and Taproot being included.

  • Dogecoin

The development roundup for Dogecoin core was released last week. Check this link for the enhancements and feature updates of Dogecoin.

  • Decred

Decred’s recent voting for several proposals has been completed. According to the voting results, the PoW portion of DRC rewards has been decreased from the block height 657,280 on 2022–05–08.

Decred v1.7.2 has been released, which allows Decrediton (GUI) users to approve or deny Decred treasury transactions on the governance page.

  • Nervos

The Nervos network has completed its recent major protocol upgrade, and now the stage of “Mirana” has arrived.

Application and adoption

  • Bitcoin

Two new Bitcoin ETFs were launched this week in Australia, including a spot Bitcoin fund directly acquiring Bitcoin and a de-facto fund of funds.

El Salvador stacks more Bitcoins. President Nayib Bukele announced that El Salvador had purchased 500 more Bitcoins to the country’s balance sheet.

  • Ethereum

On Ethereum Name Service, a protocol powering decentralized domain names, over one million ENS name has been created.

  • Decred

Decred Mobile Wallet v1.7.0 has been released for iOS and Android.

  • Kadena

Chainweaver​, the official Kadena wallet, has released its version 2.2.2, which includes support for fungibles, updated macOS build, faster browser load times, and more.

Community and more

  • Ethereum

ETH Global is going to launch ETHNYC in June to build the ecosystem. It is open for applications now.

  • Hathor

Hathor Snapshot 8 has been released, which includes updates on product, network, ecosystem, and more.

  • DigiByte

​​The DigiByte April update has been released, updating its progress on the community.

  • Kadena

Kadena’s April report has been released, summarizing their achievements and roadmap progress.

The PoW Round-Up is our bi-weekly report on the major news and mining insights in and around the Proof of Work ecosystem.

Monitor and help secure the PoW world with f2pool.

About f2pool

f2pool is a geographically distributed mining pool that has been helping miners around the world secure Bitcoin and 40+ other PoW networks since 2013.

Website: https://www.f2pool.com

Blog: https://f2pool.io/mining/insights/

Twitter: https://twitter.com/f2pool_official

Reddit: https://www.reddit.com/r/f2pool/

Discord: https://discord.gg/uNHskjvnbE

LinkedIn: https://www.linkedin.com/company/f2pool/

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