On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
Bitcoin mining profitability is up 275% since before the May 2020 halving.
Bitcoin mining operations are on the path to full recovery following the most dramatic short-term disruption in network history earlier this year, and miners are reaping the rewards in revenues.
In its Oct. 4 Week on Chain report, on-chain analytics provider Glassnode reports that Bitcoin hashrate has largely recovered despite 50% of the network’s hashing power going offline in May following China’s crackdown on the sector. Hash rate measures the total computational resources of a Proof-of-Work network.
Glassnode asserts that both hash rate and mining difficulty — which measures competition among miners seeking to solve the network’s next block — are both on a “consistent path to recovery.” Cointelegraph reported that difficulty slumped by 28% in early July.
Having increased 39% since late July, mining difficulty has nearly returned to its pre-China exodus levels, with an additional upward adjustment expected to take place this week.
Glassnode also reported that the difficulty ribbon has posted its strongest reversal since December 2018.
Related: Bitcoin mining difficulty surges 31% since July
Despite block rewards having been slashed by 50% from 12.5 BTC to 6.25 BTC in May 2020 halving event, mining profitability has increased significantly since.
Glassnode noted that the current mining profitability of $40 million daiy is up 275% since before Bitcoin’s May 2020 halving, and has increased by roughly 630% compared to June 2020’s lows of roughly between $6 million and $8 million.
“Despite dramatic shifts in the mining market, multiple deep price corrections, and a halving event in May 2020, the Bitcoin block reward value continues to rise, creating incentives for the market to adapt, innovate and recover,” the report added.
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