Bitcoin mining difficulty and hash rate hit all-time highs. The current hash price of $0.12 TH/s/d is the lowest in the previous year.

The poor advantageousness of this action has not overpowered Bitcoin miners; this event generated a new record in the difficulty of BTC mining.

Bitcoin mining difficulty achieved new positions after approaching 31.2 trillion. Its previous value was 29.7 T, implying growth of at least 5% from its last adjustment.

The Bitcoin mining difficulty accommodation is a procedure that intends to set up a balance on the production of blocks in the network. This procedure automatically achieved every 2016 mined block, a job that requires at least two weeks to reach its completion.

If the standard hash rate on the network is too high, raise the difficulty, but the mining difficulty would approach decaying levels if the standard hash rate is low. The Bitcoin network intends with this action to keep a standard of 1 mined block every ten minutes.

The Hash Rate of the Bitcoin Platform is also Reaching New Peaks

 According to the numbers presented by Braiins, the Bitcoin hash rate has become a high peak once again and registered at 228 exa hashes per second (EH/s). This situation represents a fast recovery after the slight decay it presented days ago.

The Lower the Hash Price, the Higher the Hash Rate

Contrary to hash rate and mining difficulty, Bitcoin mining profitability is down. Bitcoin’s hash price today is $0.12 per tera hash per second per day (TH/s/d). This situation means that an Antminer S19 model ASIC miner should mark daily gross earnings valued at $11.40, although these earnings might oscillate according to the energy cost.

Variations might apply control over the flows in the hash price, the difficulty that mining implies, commissions per transaction,, and the cost of Bitcoin in the market.

The increase in the difficulty of mining led to a drop of more than 50% in hash cost in March. The current hash cost is the lowest registered in the last year.

The most curious thing about this drop in hash price is the behavior of Bitcoin miners, who have been gradually increasing their hash rate instead of sending it to low status.

The increase in mining capacity when profitability is low has happened before. In other moments when the network has faced similar situations, the workers’ response to the first digital asset has been the same.

In the statistics studied in September 2021, the Bitcoin hash rate kept increasing while the mining profitability had crumbled down by more than 25% in a month.

Regarding the mining pools, which gather the processing power of all the individual miners in different operating groups worldwide, there were essential changes in their ranking or positioning since our last Noti Hash.

According to BTC.com, there were two significant movements in the position of the mining pools. Specifically, the F2Pool collection rose from fourth to second place in processing power, with 23,376 Penta hashes per second (PH/s). Also, the BTC.com pool rose from seventh to sixth place, displacing the Foundry USA pool.

By: Jenson Nuñez

The company conducted out a pyramid archetype where the funds got split into the directors’ accounts, who took advantage of the capital to fulfill their wealthy pleasures. The authorities alerted that this scam is prevalent, and they suggested potential investors be very attentive.

The US Department of Justice legally charged Luiz Capuci Jr, who played a role as CEO of the crypto mining and investment entity “Mining Capital Coin.” They filed fraud charges against many investors, thousands perhaps, whom he deceived for at least $62 million in suspicious business offerings.

The CEO of Mining Capital Coin, Caught in the US

In a press release revealed by the DoJ last Friday, the charges against Capuci arrived after diverting funds from users to their accounts. He encouraged investment in “trading bots and would execute thousands of financial operations per second and gather profits for the users who dare to invest their capital in the entity.

The DoJ alleged that Capuci carried out some pyramid scheme in which investments capitalized by new entrants got sent to pay off older ones, encouraging them to bring in more relevant numbers of users in exchange for items such as iPads, and Apple Watches; offering an expensive Ferrari to the member who achieved the best ranking to obtain the alleged benefit of the entity.

After gathering the capital, Capuci just sent funds to his private wallets and to that of some people included in the scam. They obtained luxury properties and supported expenses to keep having a wealthy lifestyle and show off their bonanza to attract more unaware victims.

People Did not Read the Signs

Under the management of Capuci, Mining Capital Coin offered an investment structure that relied on different edges. A legal complaint issued with the US Securities and Exchange Commission (SEC) details that the solidity of the proposal was crypto mining packages with profits per day registered at 1%, which got paid weekly through the same network.

The team behind Mining Capital Coin explained that the financial gains would be in Bitcoin. They executed sudden improvements that resulted in harmful actions against investors, demanding, for example, that withdrawals got made in Capital Coin, the company’s native currency that had zero commercial value.

Other worrying signs arrived when the alleged annual memberships expired since flaws came to light while processing the requests. In most cases, the victims got required to purchase more investment packages so they would not lose the capital caught in the network.

The fraudulent procedure worked by Mining Capital Coin has been active since January 2018, for which the scam managed to harm more than 65,000 unaware victims. The authorities alerted that this modus operandi is an everyday action, so they warned possible interested parties to consider the alert before risking their investment, waiting for such promises to get fulfilled.

Regarding Capuci, he goes through charges of wire fraud, securities fraud, money laundering on an international scale, and other criminal behaviors. He would be about to spend at least 45 years in prison if the court found him guilty of all the legal charges against him.

By: Jenson Nuñez