BitOoda published our updated target Hashrate analysis last week for our subscribers, calling for 327EH/s by the end of 2022. This estimate is back-end loaded and depends in part on whether Bitcoin price and economics are supportive of this Hashrate. Click here for the full report.
Bitcoin dropped 11.5% week-on-week…
Bitcoin dropped 6.8% week-on-week (WoW), settling at $47,352 as of midnight UTC on 1/2. Christmas day’s reset saw a minor difficulty increase of 0.32%, equivalent to a target Hashrate of ~174 EH/s. Over the past week, most bitcoin miners underperformed Bitcoin, with just Iris and Terawulf up in absolute terms…
Bitcoin rose 1.6% week-on-week (WoW), settling at $49,082 as of midnight UTC on 12/21. Several BTC miners have outperformed BTC YTD, notably Mawson and Marathon, but most have underperformed over the past week. Click here for the full version of this report.
The ProShares BITO ETF trails BTC by 2.6%…
Bitcoin dropped 3.3% week-on-week (WoW), settling at $48,830 as of midnight UTC on 12/15, but is up slightly today vs. last Thursday. Several Bitcoin miners have outperformed Bitcoin YTD as well as today, but most trail BTC since 9/30. Click here for the full report.
Saturday’s difficulty adjustment saw an…
Bitcoin gained 2.7% week-on-week (WoW) to $57,920 as of midnight UTC on 11/29. Sunday’s difficulty adjustment saw a decrease of 1.49%, equivalent to a target Hashrate of 159.8 EH/s. The ProShares BITO ETF trails BTC by 2.2% since fund inception; the fund launch correlates strongly with increased CME open interest…
BitOoda was thrilled to serve as advisor and co-investment banker on the $150 million financing transaction for Lancium Technologies, partnering with BTIG on the successful raise. …
Bitcoin fell 9.2% week-on-week (WoW), settling at $59,032 as of midnight UTC on 11/21, and is down further to $57,500 intraday. Bitcoin modestly outperformed the $1.4B ProShares BITO ETF since fund inception; the fund launch correlates strongly with increased CME open interest as AUM increased rapidly in the first week…
Bitcoin rose 3.2% week-on-week (WoW), settling at $65,032 as of midnight UTC on 11/14. Yesterday’s difficulty reset increased target Hashrate by 4.7% to 162 EH/s. While Hashrate is now modestly below our expectations at this point, published 9/16, we believe our 198EH/s year end estimate is intact. We do note…
Bitcoin gained 0.9% week-on-week (WoW), settling at $61,432 as of midnight UTC on 10/31. CME futures contango dropped across the curve, along with an Open Interest decline of ~23%. It appears that the futures roll for the Bitcoin ETFs is still incomplete, following the October contract expiry last week. Open…
Bitcoin ASIC mining rigs remain in short supply. Given the challenges miners are facing procuring rigs, we examined the economics of mining with older -generation rigs, and the payoffs of utilizing older rigs vs. paying up for next-generation rigs right now. Click here to read this latest report from BitOoda’s research team.
Takeaways
•The price of ASICs remains high, even for less efficient older-generation S9 and S17-class rigs
•Despite this, payback periods mining bitcoin with older-generation rigs are significantly more attractive than with new-generation rigs
•Miners should hold on to, or procure (if possible) older-generation rigs, as they present a faster return on investment
present a faster return on investment
