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Bitcoin Mining Insights

January 2023 Insights: Bitcoin Mining Newsletter

Monthly updates on the news, data, and software that matter for bitcoin miners.

Published on Feb 07, 2023
Published on Feb 07, 2023

Table of Contents

January brought some relief to miners following the chaotic end to 2022, but we’re noway near out of the woods yet! The month also saw a large miner deploy its first Intel-powered rigs, an African national park is mining bitcoin, and lawmakers in some US states have introduced bills to protect their citizens’ rights to mine bitcoin.

This and much more below!

P.S. Read to the end where we’ll also review 2022’s year-in mining data.

The Latest from Braiins:

Nashville Mining and Energy Summit

The team kicked off the year with a trip to the US for the Nashville Mining and Energy Summit 2023 held at the wonderful Bitcoin Park. It was great to see so many Braiins users and industry colleagues in person. 

New Braiins Farm Proxy Release

This release includes:

  • A new Braiins Farm Proxy Monitor to replace the first generation monitoring system.
  • Support for any miner running Braiins OS+ and Bitmain Antminer S19s and S17s series on stock firmware. 
  • Improved to the data dashboards, device discovery, and dev fee channel 
  • Bug fixes including: duplicated invalid shares/hashrate metrics, miner telemetry

Braiins CMO Speaks at Lugano Plan B Forum

Our CMO Kristian Csepcsar had the pleasure of speaking at the Lugano Plan B Forum in October last year. Kristian was on a panel that included Dr. Adam Back, Jaran Mellerud and was moderated by Natalie Brunell. Footage from the conference is now available on YouTube.

Mining News

  • Bitcoin miner Core Scientifc (CORZ) to shut down Celsius Mining’s machines. Celsius Mining is Core’s largest customer
  • The bitcoin mining council’s Q4 2022 report shows that members and survey participants are using electricity with a 63.8% sustainable power mix
  • Lawmakers from Missouri and Missippi introduced bills that protect citizen’s rights to mine bitcoin
  • Blockstream raised US$125m to expand its institutional bitcoin mining and colocation services
  • Hive Blockchain reported earning the equivalent of 184 BTC from curtailing its’ power use in December due to the polar vortex that affected some parts of the US. Other miners also reported similar earnings from curtailment
  • Hive Blockchain also announced the deployment of its first Intel-powered rigs
  • Virunga National Park in Congo is mining bitcoin

Bitcoin Mining Data: January 2023

Stay up to date with the latest bitcoin mining data with the Braiins Insights Dashboard

Bitcoin passed through 3 difficulty epochs this month. There was one downward and two upward adjustments, including one upward adjustment of >10%.

Hashprice increased from 0.59 to 0.75, almost hitting 0.8 at some points in the month.
Hashrate began the month at 271 EH/s and ended at just below 300 EH/s. Miners continued to plug in machines despite adverse operating conditions.
Real-Time Network Hashrate surpassed 300 EH/s for the first time ever.

Braiins Mining Insights

In our latest piece, guest contributor Cathedra President & CSO Drew Armstrong takes you through the history of debt in bitcoin mining, the various types of debt instruments, and the common structures used by mining companies.

Check it out!

P.S. Part 2 dropping soon.

Bitcoin Mining Memes

Braiins Mining Community

There is no second best way to stay warm!

Thank you, Brian!

If you, like BTC Sessions ever want to get acquainted with mining using Braiins OS+, our support team is always here to help. Submit a support ticket via our website or join our support group on Telegram.

Braiins merch spotted!

This is awesome, thank you for building it!

We like the analogy! Check out the full blog post here.

Happy Genesis Block Day for January 3rd!

2022 Bitcoin Mining Data Year In Review

Data Start of 2022 End of 2022 % +/-
Hashrate (EH/s) 178 240 +35%
Difficulty (T) 24.72 36.84 +49%
Hashprice ($/TH/Day) 0.248 0.060 -75.8%
Hashvalue (Sat/TH/Day) 525 360 -31.4%
Total Mining Revenue ($mil/day) 43.87 16.77 -61.7

In summary, 2022 was brutal for miners largely thanks to the 64% drawdown in BTCUSD.

Get In Touch:

Connect with our team and the Braiins mining community.

Thank you for reading to the end and see you all next month!

By miners, for miners.

— Braiins Mining

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About Braiins

Bitcoin mining software company: Braiins Pool, Braiins OS+ & Stratum V2.

By miners, for miners.

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