Square, Hashrate Surge, Building Farms and Pool Comparisons

Published: Tue, 11/02/21

November 2, 2021
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Market Overview

Data as of 13:30 UTC

Here’s a look at Square’s push into Bitcoin mining.

Square isn’t just bullish on Bitcoin. The company wants a part of the mining industry too. Led by Jack Dorsey, Square has taken several significant steps to participate in the mining industry.

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Bitcoin’s hashrate roars back with 8 consecutive difficulty increases.

Ever since the drop caused by China's mining ban, Bitcoin’s hashrate has roared back to life, with Sunday’s difficulty adjustment marking the eighth consecutive increase for the leading cryptocurrency network.

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Let’s evaluate protocol strength by comparing geographical network distribution.

At the heart of a blockchain’s dependability is its ability to protect itself from external threats while maintaining uptime. Geographic dispersion is therefore a top consideration to counter the largest threat to dependability failures: a 51% attack.

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Correlations between public mining companies and Bitcoin are strong and steady.

Correlations between miners and Bitcoin have held steady since 2020. Before 2020, the 6-month rolling correlation was weak and oscillated from positive to negative. Correlation likely picked up from anticipation of the halving and the start of a bull market.

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Shiba Inu token frenzy burns $59 million ether.

Ether burning hit a one day record high of 14,818 ETH or about $59 million on October 27, a tailwind effect of the Ethereum-based meme coin’s massive price gains and trading volume.

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Here’s a comparison between hashrate managers and traditional mining pools.

Bitcoin miners must join a mining pool to get paid regularly. But not all pools serve their miners the same. Miners need to understand how hashrate managers operate compared to regular mining pools.

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Bitcoin mining revenue jumps to its second-highest level ever, topping $1.72 billion in October.

Bitcoin miners enjoyed a nice payday last month, ending October with over $1.72 billion in total payouts. Total revenue increased 32% from September, thanks to bitcoin’s price appreciation.

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Mapping out Argo Blockchain’s portfolio

In accordance with its diversification strategy, Argo has made “strategic initiatives in software and technologies in the wider cryptocurrency and blockchain sectors”. This article maps their current investments and cryptocurrency holdings.

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Livestream Watchlist

How To Build A Bitcoin Mining Farm

How To Build A Bitcoin Mining Farm

In this livestream, Compass talks with a panel of miners about how large-scale mining farms are designed and built.

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How China Decentralized Bitcoin Mining | Compass Live CLIP

How China Decentralized Bitcoin Mining

Alex Gladstein explains how China’s bitcoin ban helped spread the Bitcoin's hashrate around the world.

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All About Mining ETFs And SPACs

All About Mining ETFs And SPACs

Compass explores the state of the public mining markets focusing on mining ETFs and SPACs.

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How Kazakhstan Regulates Bitcoin Mining | Compass Live CLIP

How Kazakhstan Regulates Bitcoin Mining

Kazakhstan's cryptocurrency mining industry faces government regulations and expensive electricity.

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Block Rewards

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Good luck! And enjoy the cozy footwear. 

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Compass Updates

Network Overview

* measured by $/TH/s

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Written by Zack Voell, Will Foxley , and Lili Rhodes

  
 

About Compass: Compass is a Bitcoin mining and modern media company focused on driving the mass adoption of cryptocurrency mining.

  
 

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