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In Future, Difficulty to Mine Bitcoin will Certainly Increase

In recent news, Bitmain, Bitcoin (BTC) mining giant, is planning to increase its mining capacity by 50% in the following six months on the back of a large hardware order, said by a close source to the deal. “Based on this calculation, after half a year, Bitmain’s total network computing power will skyrocket by about 50%,” is the publication notes, adding Bitmain’s valuation which will subsequently increase by 12 billion dollars. 

As of late, a person from a supply chain network, who is close to TSMC, reported the news to the blockchain. Bitcoin recently submitted new orders, which is equal to 600,000 mining machines. Moreover, as of late, the chip production limit has turned into a significant issue that has controlled the improvement of the whole mining industry. 

The 600,000 new mining machines will bring almost 1.2 billion dollars in profits to Bitland, which is expected to arrive at a value of 12 billion dollars. Recently, a person from supply chain network close to TSMC told a blockchain that they are 7nm and 16nm wafer orders, totaling around 50,000 and will be delivered in the second half of the current year. 

Presently, Bitcoin mining machines are the primary source of income for the majority of mining machine manufacturers. Furthermore, in 2018, Bitland submitted a prospectus which demonstrates that in the initial six months of 2018, 94.3 percent of the organization’s income originated from mining machines. Today, 600,000 7nm mining machines in Bitland are slowly starting to enter the market. Besides, the production of these mining machines will once more push the Bitcoin framework to the new crest. 

“In the future, the difficulty of bitcoin mining will certainly further increase,” said miner Chen Hanping. In the mining circle, this has become the general agreement of all miners.

Moreover, as per the calculation of each 50TH/s computing power, just 600,000 mining machines in the terrain can give 30E processing power. 

“Even in the previous bear market, the 7nm mining machine is still tight supply.” In Chen Lei’s view, the important reason why the 7nm mining machine was sparse was that the mining machine manufacturer endured a capacity crisis.

“In the first half of this year, orders for digital currency chip companies may generally shrink due to currency prices.” TSMC supply chain sources said, “In addition, TSMC’s 7nm production line is also facing huge challenges.”

Will the Bitcoin Industry adhere to the above challenges?

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Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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