The past 2 weeks continue to show incredible investment into the mining side of the Bitcoin network. The network was last noted on Aug 3rd to have a mining capacity of 371 TH/s. Today the network clocks in at 522 TH/s.
The network has increased by in 141% two weeks.
The weekly price of Bitcoin has also increased dramatically during the past two weeks. It has jumped from around the $110 mark to around the $120 mark.
This has effectively increased the Bitcoin market capitalization to $1.4 billion dollars.
For those interested in mining Bitcoins, to update our quick napkin calculation, the 522 TH/S at approximately $250/GH Estimated Average (GPU/FPCA/ASIC) yields a mining investment of $130.5 M in mining equipment throughout the world.
Aug 22 - Bitcoin Network and Pricing
The network has increased by in 141% two weeks.
The weekly price of Bitcoin has also increased dramatically during the past two weeks. It has jumped from around the $110 mark to around the $120 mark.
This has effectively increased the Bitcoin market capitalization to $1.4 billion dollars.
For those interested in mining Bitcoins, to update our quick napkin calculation, the 522 TH/S at approximately $250/GH Estimated Average (GPU/FPCA/ASIC) yields a mining investment of $130.5 M in mining equipment throughout the world.
Aug 22 - Bitcoin Network and Pricing
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