# Hashrate Related Articles

HTX News Center provides the latest articles and in-depth analysis on "Hashrate", covering market trends, project updates, tech developments, and regulatory policies in the crypto industry.

An Undercurrent of Bitcoin Civil War: BIP-110 Raises Fork Concerns

**A Summary of the Bitcoin Governance Crisis: The BIP-110 Showdown and Forking Risks** Bitcoin is facing internal division alongside a market downturn. The core of the conflict is BIP-110, the "Reduced Data Carriage Soft Fork" proposal introduced in December 2025. It aims to restrict non-financial data (like inscriptions) in future transactions, citing concerns over node costs and Bitcoin's original purpose. The controversy lies in its activation mechanism. BIP-110 requires 55% miner support within a difficulty period. However, its voting signal has remained below 1% since monitoring began. If this threshold isn't met by the August 7, 2026 deadline (block height 961,632), compatible nodes (primarily running Bitcoin Knots) are programmed to *enforce* the new rules, rejecting non-compliant blocks. Critics warn this minority-enforced activation could split the chain. Major figures like Michael Saylor, Adam Back, and Jameson Lopp strongly oppose BIP-110. Saylor argues it sets a dangerous precedent for defining "valid" transactions and could stifle future innovations. Opponents view the enforcement strategy as a risky governance overreach, contrasting it with past upgrades that achieved over 90% consensus. BIP-110 was partly a reaction to Bitcoin Core's v30 update in October 2025, which significantly increased the default data relay limit. Core developers called this a policy change, not a consensus rule, but it prompted the creation of the Bitcoin Knots branch and, subsequently, BIP-110. Compounding the pressure, Paul Sztorc plans a separate hard fork around the same time to launch a new chain (eCash) featuring his Drivechain scaling proposal. While independent, these dual forking events create operational and market uncertainty. The market, already in a corrective phase, must now price in this governance tail risk. Analysts predict the original chain, backed by the vast majority of miners and exchanges, would likely retain primary value and liquidity if a split occurs. However, the process would be disruptive, causing short-term chaos with replay attacks, exchange confusion, and widened spreads. August 2026 presents a critical test of Bitcoin's ability to resolve deep governance disputes without fracturing.

Foresight News07/27 13:10

An Undercurrent of Bitcoin Civil War: BIP-110 Raises Fork Concerns

Foresight News07/27 13:10

Bitcoin miner reserves increase 1% despite operational pressure – Why?

Bitcoin miner reserves have increased by 1% despite operational pressures, including declining hash rates and stressed revenues as indicated by a Puell Multiple below 1. While mining difficulty has dropped, providing some relief, it also reduces network security. Miner data shows net inflows and accumulation, suggesting they view BTC as undervalued and are not yet distributing their holdings. This accumulation has coincided with a slight BTC price recovery, with the cryptocurrency breaking above a key technical pattern. The outlook suggests that if miner reserves begin to decline while the Puell Multiple remains low, it could trigger forced selling and further price pressure.

ambcrypto07/16 04:03

Bitcoin miner reserves increase 1% despite operational pressure – Why?

ambcrypto07/16 04:03

From $150 to $200,000 in 8 Hours: This Year Has Seen Many Bitcoin Mining "Chosen Ones"

Title: 8 Hours, $150 to $200,000: Bitcoin Mining's 'Chosen Ones' in 2026. In early July 2026, a miner connected a $150 Bitaxe Gamma device (with a hash rate below 1 TH/s) to home Wi-Fi. Miraculously, after just 8 hours on a public pool, it mined block 957382, earning 3.1382 BTC (~$200k). With the device's share of the total network hash rate being less than one 900-millionth, the theoretical waiting time was an astronomical 16,701 years. This event, with odds similar to winning a major lottery, is not isolated in 2026. In February, a miner rented 1 PH/s of hashing power for $75 and mined a block within hours. In March, a 480 GH/s Bitaxe Pocket Rig defied 25,000-year odds to find a block worth ~$258k. Other cases followed in April and May, where small-scale or outdated hardware operators successfully mined blocks through solo or public pools. According to statistics, individual miners have found 12 blocks in 2026 so far. However, over 99.9% of blocks are still controlled by industrial mining pools. These stories represent extreme statistical luck, akin to winning a mathematical lottery, rather than a shift in mining dynamics. They capture attention precisely because of their absurdly low probability, highlighting that while most miners cover electricity costs with little return, a few "chosen ones" occasionally hit the jackpot.

Foresight News07/15 09:03

From $150 to $200,000 in 8 Hours: This Year Has Seen Many Bitcoin Mining "Chosen Ones"

Foresight News07/15 09:03

Kazakhstan’s new crypto adoption push: Stablecoin rules, tax exemptions explained!

Kazakhstan has taken a major step to become a regulated crypto hub. President Kassym-Jomart Tokayev signed a decree, prepared with the Ministry of AI and Digital Development, to establish a formal framework for the digital asset market. The rules aim to boost investment and adoption through key measures. These include tax exemptions on individual income from crypto transactions, provided users disclose holdings on foreign platforms and move them to domestic, regulated exchanges. The decree also outlines a framework for stablecoin payments and a plan to allocate surplus state electricity to crypto mining to stimulate regional investment. Officials, including Deputy Prime Minister Zhaslan Madiyev, state the goal is to attract global capital by making digital assets as secure as traditional finance. Kazakhstan, already the world's third-largest in Bitcoin mining hashrate, aims to join jurisdictions like the UAE and Singapore with clear crypto regulations.

ambcrypto07/09 10:02

Kazakhstan’s new crypto adoption push: Stablecoin rules, tax exemptions explained!

ambcrypto07/09 10:02

Bitcoin miner Riot’s 500 BTC transfer sparks sell-off fears – Correction possible IF…

Riot Platforms transferred 500 BTC (approx. $30.7M) to NYDIG Custody, sparking sell-off speculation. However, this movement alone does not confirm a sale, as it could be routine treasury management. The company's Bitcoin reserves have decreased from 19,368 BTC at the end of 2025 to 15,680 BTC, following sales earlier in 2026. This trend is mirrored by other major miners like Hut 8, Mara Holdings, and Core Scientific, who have also reduced their BTC holdings. The article links these reserve adjustments to changing mining dynamics in 2026. After a profitable late-2025 period, Bitcoin's price drop from over $120,000 to around $65,000, combined with high network hashrate and mining difficulty, created a financial squeeze. This has led to less efficient miners shutting down equipment and financially stable firms actively managing their Bitcoin reserves rather than simply holding them. The overall network hashrate has declined from its peak, putting constant pressure on mining profitability.

ambcrypto07/03 11:02

Bitcoin miner Riot’s 500 BTC transfer sparks sell-off fears – Correction possible IF…

ambcrypto07/03 11:02

Is Riot Platforms’ 500 BTC sale an early warning for Bitcoin’s Q3?

The article discusses how the shift from Bitcoin mining to AI is emerging as a risk for Bitcoin in Q3 2026, highlighted by Riot Platforms' recent sale of 500 BTC (worth ~$30 million). Despite Bitcoin's price falling below $57k, Riot's stock outperformed, closing Q2 up 120%. The company sold more BTC than it mined last quarter, reducing its treasury to fund AI and data center investments. This reflects a broader trend where miners, facing pressure as Bitcoin's market price sits below the estimated $78k production cost, may increasingly use BTC reserves as cash to diversify into AI. The rising Bitcoin hashrate further squeezes miner profits, potentially accelerating this strategic pivot. Riot's sale could be an early warning of this structural shift heading into Q3.

ambcrypto07/01 14:02

Is Riot Platforms’ 500 BTC sale an early warning for Bitcoin’s Q3?

ambcrypto07/01 14:02

BIT Research: The 2028 Halving Is Not the End, the Real Shake-Up of the Bitcoin Mining Industry Is Just Beginning

The Bitcoin mining industry is undergoing its most complex structural adjustment since inception. Despite Bitcoin's price holding near $61,000 and the network hash rate approaching a record 1 ZH/s, miner profitability is deteriorating. The industry is operating close to its breakeven point, with the 2028 halving expected to accelerate consolidation. The challenges extend beyond the halving's subsidy reduction; the industry's revenue model has yet to successfully transition towards a fee-driven structure. Increasingly, mining companies are evolving from simple Bitcoin producers into infrastructure and energy operators, including providers of AI/HPC computing power. Competition is shifting from pure hash rate expansion to business model upgrades. Economic pressure is evident. The theoretical daily mining revenue at current prices is around $78 million, yet the actual figure is only about $33 million—a 136% gap. Transaction fees remain low at roughly $220k daily, far below historical implied levels. With a current estimated industry-wide breakeven price near $65,000, mining alone is struggling to generate ideal profits. The 2028 halving is projected to push the fundamental production cost floor to approximately $93,289. This will likely accelerate a shift towards consolidation among larger, well-capitalized miners with diversified revenue streams. Competitive advantage will belong to institutionalized players with access to low-cost energy, AI/HPC hosting operations, and stronger balance sheets. In essence, Bitcoin mining is transitioning from a "mining business" to an "infrastructure business." Future profitability and resilience will depend less on block rewards and more on diversified income sources like energy management and computational infrastructure services. For investors, the key question is not the halving itself, but which miners can successfully navigate this business model transformation.

marsbit06/27 07:32

BIT Research: The 2028 Halving Is Not the End, the Real Shake-Up of the Bitcoin Mining Industry Is Just Beginning

marsbit06/27 07:32

The Full Story of How Crypto Unicorn Blockstream Is Mired in Serious Fraud Allegations

This article details serious allegations of fraud against Bitcoin infrastructure company Blockstream, founded by Bitcoin pioneer Adam Back. In June 2024, investigative account NatInfoSec published a report accusing Blockstream's mining note (BMN) program of potentially operating a multi-billion dollar scheme with Ponzi-like characteristics. The core allegations focus on Blockstream Mining Notes (BMNs), which offer investors fixed annual yields up to approximately 20% from Bitcoin mining. NatInfoSec's investigation raises several key issues: 1. **Suspicious Hashrate & Payout Capacity**: The analysis suggests Blockstream would need 20-45 EH/s of mining power to cover its BMN obligations, but its public dashboard shows only around 15 EH/s. Furthermore, no verifiable public evidence (e.g., grid connection records, import data) was found to support the massive mining operation required. 2. **Questionable Payout Source**: The BMN contract allows Blockstream to use Bitcoin from *any source* (Substitute Performance BTC) to fulfill investor payouts, raising concerns that payouts may not come from actual mining revenue. 3. **High-Risk, Fixed Returns**: Offering ~20% fixed yields in the volatile, cyclical Bitcoin mining industry is viewed as highly unusual and requires clear explanation. 4. **Undisclosed Criminal Record of Key Figure**: Christopher William Cook, a key figure in Blockstream's mining operations and CEO of spin-off Exacore, was found to have a federal felony conviction for mail fraud in 2008, a fact not disclosed in BMN offering documents. His background was also allegedly embellished. 5. **Potential Contagion to BSTR SPAC**: Questions were raised about whether these liabilities and Cook's record should have been disclosed in the SEC filings for Bitcoin Standard Treasury Company (BSTR), a separate Adam Back-associated firm planning a SPAC merger. The crypto community is divided. BitMEX Research validated Cook's criminal record and expressed concern over the high yields but found other evidence lacking or misleading, noting the legal separation between BMN, Blockstream, and BSTR. Blockstream defenders, like Samson Mow, argue the mining is real. Critics, however, emphasize the lack of independent, verifiable proof of the mining operation's scale and the true source of investor payouts. The article concludes that BMN remains shrouded in key unanswered questions regarding its actual size, the verifiability of its underlying mining assets and payouts, the source of its high yields, and the full role and disclosure concerning Chris Cook. Blockstream had not issued a comprehensive response at the time of writing.

marsbit06/24 15:08

The Full Story of How Crypto Unicorn Blockstream Is Mired in Serious Fraud Allegations

marsbit06/24 15:08

‘Crypto Mining Queen’ Lyu Yongshuang: Once Controlled 9% of Global Bitcoin Hashrate, Swindled Out of 60 Million by ‘Middle Eastern Royal Son-in-Law’ in the US

Summary: "Mining Queen" Lyu Yongshuang (Fiona Lyu), an 80s-born Chinese entrepreneur, once controlled approximately 9% of the global Bitcoin mining hashrate through her company Valarhash and its pools, 1THash and Bytepool. Her fortunes shifted dramatically in 2021 following China's crackdown on crypto mining. Relocating to the US, she fell victim to an elaborate fraud by two American brothers, Zubair and Muzammil Al Zubair. Posing as an "Arab royal" and a hedge fund manager, they used bribery and a fake romantic relationship to trick Lyu into signing a mining facility contract in Ohio. The scam resulted in losses exceeding $9.4 million, including the theft and resale of 1,067 mining rigs. In 2026, the brothers received lengthy prison sentences. Concurrently, Lyu faced legal battles in China, where a court invalidated a mining contract with a listed company, ordering a refund of nearly $2.8 million. These events marked a severe downturn for the once-powerful industry figure.

marsbit06/11 10:17

‘Crypto Mining Queen’ Lyu Yongshuang: Once Controlled 9% of Global Bitcoin Hashrate, Swindled Out of 60 Million by ‘Middle Eastern Royal Son-in-Law’ in the US

marsbit06/11 10:17

A $300 Used Mining Rig Mined a $230,000 Bitcoin Block

A $300 used desktop Bitcoin miner, the Avalon Nano 3S, defied astronomical odds—roughly 1 in 149 million—by solo mining a block worth approximately $232,000 in May 2026. This occurred amidst a mining landscape dominated by industrial-scale operations with exahash-level computing power, where the tiny miner's share of the global network hash rate was a minuscule 0.00000067%. The miner achieved this not by connecting directly to the Bitcoin network, but through a solo mining pool service like Braiins Solo, which handles technical logistics while allowing individual miners to claim the full block reward if their machine succeeds. The event highlights the extreme lottery-like nature of solo mining today, where the expected return for most participants is deeply negative. However, it also demonstrates that Bitcoin's original Proof-of-Work design principle—where any participant, regardless of size, has a non-zero chance to validate a block and earn the reward—remains technically intact. This preserves a symbolic, though highly improbable, "back door" for individual miners in an era otherwise defined by centralized industrial mining power.

marsbit06/02 00:53

A $300 Used Mining Rig Mined a $230,000 Bitcoin Block

marsbit06/02 00:53

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