Monday Mining Metrics: UTXO Consolidation Explained

Bitcoin Mining Update - 11/27/2023

UTXOs explained

Properly managing your Bitcoin UTXOs (unspent transaction output) can save you a fortune on future transaction fees. We put together this video explaining what UTXOs are and why it is important that you understand them.

With future mining economics based solely on revenue derived from transaction fees, those using the Bitcoin network should seek to minimize the size (in terms of vBytes) of each transaction they send.

Mempool

In regards to transaction fees, they have found equilibrium in the 50-60 sat/vByte range. This is still many multiples higher than they were throughout the bear market.

A high transaction fee environment is imminent. Prepare yourself as a user by consolidating UTXOs, and prepare yourself as a miner by stacking more ASICs.

Hashrate/Difficulty All-Time High

In the wake of $37,000 per Bitcoin, miners continue to plug in new machines in order to arbitrage cheap energy; producing BTC for a lower cost in electricity than what the BTC is worth on the market.

The total hashrate of the Bitcoin network has reached 480 EH/s on the 14-day moving average; difficulty has corresponded with a ~5.07% increase.

In turn the amount of energy necessary to conduct a hostile attack against the network increases. The wall of encrypted energy is reaching massive heights.

Blockware Direct ASIC Pricing with Hosting

For those seeking to purchase ASICs in bulk (with or without hosting), contact sales@blockwaresolutions.com or reach out here.

We can help you secure all of the top ASICs currently on market; Antminer S19 XPs, S19k Pros, and Whatsminer M50s.

Contact sales@blockwaresolutions.com or reach out here.

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