Trending...
- How to Get a Handicap Placard in California: Simplifying the Process for Disabled Drivers HandicapMD.com Offers Easy Online Certification for Disabled
- Autism Soccer Launches First Franchise From Miami, Taking Mission Global
- Allegiant Management Group Launches New Website Following Recent Rebranding
The Eleventh Edition of the CryptoSuper500 Report Shows Bitcoin's annual economic value (AEV) at $11.2B
MENLO PARK, Calif. - iSportsWire -- OrionX Research today released the eleventh edition of its CryptoSuper500 list, marking its fifth anniversary. The list recognizes cryptocurrency mining as a form of supercomputing application, tracks the top mining companies and pools, and offers a snapshot of the cryptocurrency industry. The CryptoSuper500 was developed by Dr. Stephen Perrenod, OrionX Partner and noted crypto analyst who has also created a top-ranking Bitcoin evaluation model and elucidated the concept of the "blockchain calendar".
"The computational resources that create and maintain Bitcoin execute a Reusable Proof of Work (POW) security protocol and comprise a decentralized supercomputer with millions of specialized ASICs that perform about 500 Exahashes/second of secure protocol calculations, that is, half a Zettahash/second," said Perrenod, OrionX Partner and Analyst. "The top 12 publicly traded Bitcoin mining companies have a collective market cap of over $8 billion and hold over $1 billion in Bitcoin in their corporate treasuries. They have roughly 100 Exahashes/sec of hash rate and they mine 20% of the 900 Bitcoins mined on an average day, primarily in North America."
More on iSports Wire
As with traditional supercomputers, energy efficiency is an important parameter for Bitcoin mining. Over the past four years the energy usage of Bitcoin has roughly doubled, but the energy efficiency of mining hardware has improved by well over a factor of two. Whereas most electricity is used for consumption, Bitcoin produces permanently reusable value.
Among the dozens of proof of work coins in existence, only Bitcoin and Dogecoin exceed 100 million dollars of annual production. Bitcoin's annual production rate (annual economic value) is currently $11.2 billion, while Dogecoin's is just $0.4 billion.
The first CryptoSuper 500 report was released five years ago in November 2018. Since that time there has been consolidation from six POW coins down to just two, Bitcoin and Dogecoin, that now pass the hurdle for the list. The Bitcoin market capitalization has compounded at 43% per annum over the interval and the global hash rate at 56% per annum. Both have risen faster than Moore's Law.
The annual production of top cryptocurrencies has grown more modestly, at 16% compounded per annum. The more modest rate of increase is a result of Ethereum switching to proof of stake and dropping out of the crypto super POW race in September 2022.
More on iSports Wire
The report also discusses central bank digital currencies (CBDCs). China was the first major country to implement such a currency. Having completed its investigation phase, it appears that the European Central Bank is committed to a CBDC, with a preparation phase starting earlier this month.
About OrionX
OrionX is a Silicon Valley consulting firm offering Technology Research, Market Execution, and Customer Engagement services to high tech companies. More than 70 financial institutions and technology leaders in virtually every technology segment have trusted OrionX to provide advice, help set new break-away strategies, ignite brands, and grow market share. Visit us at OrionX.net.
* Note: This effort is an analysis of the technologies and trends surrounding blockchain and cryptocurrencies. It is not, and must not be considered as, financial, investment, or legal advice.
"The computational resources that create and maintain Bitcoin execute a Reusable Proof of Work (POW) security protocol and comprise a decentralized supercomputer with millions of specialized ASICs that perform about 500 Exahashes/second of secure protocol calculations, that is, half a Zettahash/second," said Perrenod, OrionX Partner and Analyst. "The top 12 publicly traded Bitcoin mining companies have a collective market cap of over $8 billion and hold over $1 billion in Bitcoin in their corporate treasuries. They have roughly 100 Exahashes/sec of hash rate and they mine 20% of the 900 Bitcoins mined on an average day, primarily in North America."
More on iSports Wire
- Stop Fighting, Start Living. Daryl Dittmer's New Book Offers Roadmap to Personal Power
- BTR: Understanding the Critical 2FA Vulnerability in QR Code Enrollment Processes Uncovered by Silent Sector – Lauro Chavez
- Player Play Date Continues: NFL Fans and Their Furry Friends Head to Dallas for a new kind of Playdate
- IGC Pharma Wins 2 Awards in Phase 1 of NIA's AI PREPARE Challenge, Advancing Alzheimer's Early Prediction Research
- Get in the Halloween Spirit at Rare Books LA Union Station
As with traditional supercomputers, energy efficiency is an important parameter for Bitcoin mining. Over the past four years the energy usage of Bitcoin has roughly doubled, but the energy efficiency of mining hardware has improved by well over a factor of two. Whereas most electricity is used for consumption, Bitcoin produces permanently reusable value.
Among the dozens of proof of work coins in existence, only Bitcoin and Dogecoin exceed 100 million dollars of annual production. Bitcoin's annual production rate (annual economic value) is currently $11.2 billion, while Dogecoin's is just $0.4 billion.
The first CryptoSuper 500 report was released five years ago in November 2018. Since that time there has been consolidation from six POW coins down to just two, Bitcoin and Dogecoin, that now pass the hurdle for the list. The Bitcoin market capitalization has compounded at 43% per annum over the interval and the global hash rate at 56% per annum. Both have risen faster than Moore's Law.
The annual production of top cryptocurrencies has grown more modestly, at 16% compounded per annum. The more modest rate of increase is a result of Ethereum switching to proof of stake and dropping out of the crypto super POW race in September 2022.
More on iSports Wire
- Superior Thin Film Solar Panel Advancements Open Great Opportunities in the Rapidly Developing Aerospace and Related Sectors: Stock Symbol: ASTI
- From the NFL to the Hall of Fame: Ovie Mughelli Inducted into Wake Forest's 2025 Hall of Fame
- Grand opening of the ResC4EU platform to support companies withstanding supply chain disruptions
- New Study Reveals Alarming Cardiac Risks Associated with Electroshock Treatment
- The Ultimate Guide to Buying Historic Luxury Homes in Winter Park, FL Now Available
The report also discusses central bank digital currencies (CBDCs). China was the first major country to implement such a currency. Having completed its investigation phase, it appears that the European Central Bank is committed to a CBDC, with a preparation phase starting earlier this month.
About OrionX
OrionX is a Silicon Valley consulting firm offering Technology Research, Market Execution, and Customer Engagement services to high tech companies. More than 70 financial institutions and technology leaders in virtually every technology segment have trusted OrionX to provide advice, help set new break-away strategies, ignite brands, and grow market share. Visit us at OrionX.net.
* Note: This effort is an analysis of the technologies and trends surrounding blockchain and cryptocurrencies. It is not, and must not be considered as, financial, investment, or legal advice.
Source: OrionX.net
0 Comments
Latest on iSports Wire
- Cummings Graduate Institute for Behavioral Health Studies Celebrates New Doctor of Behavioral Health Graduates
- Local Provider Roadrunner Health Services Outperforms Corporate Competitors in New Mexico's Correctional Facilities
- Nfl Alumni Super Bowl Of Golf Qualifying Tournament Comes To Tega Cay, Sc
- Non Profit Organization "The Breast Cancer Fundraiser" Prepares for Breast Cancer Awareness Month
- Leading Arizona Real Estate Team Rebrands to SPACE, Marking a New Era in Real Estate Innovation
- Office Calgary Inc has Partnered with RingCentral to provide Telecommunications Systems
- Aquia Inc. Wins 5-Year $15-Million USPTO Continuous Authorization to Operate (cATO) Contract
- Trade Meter AI Featured on StartUpers Podcast's Pilot Episode: A Deep Dive into the Future of AI-Powered Stock Analysis
- E.G. Phillips Cinematic Single a Fiery Rebuke to Election Season Chaos Agents
- Live Good Inc. Receives 2024 "Innovator of the Year" Recognition from Orange County Business Journal in California
- Human Resources Strategy Forum Celebrates 30 Years Empowering Leaders, Shaping the Next Generation of HR Innovators
- Jessica Perrone and HerFinIQ Announce B.I.G. Investors Club: Empowering Women Towards Financial Independence Through Education and Community
- Lightstone Solutions Announces Appointment of Brian Obney as Chief of Staff and Director of Due Diligence
- Royal Photographer Millie Pilkington Launches Wedding Photography Awards with Wedissimo
- AEC Electric Works with The Menke Group to Adopt the Employee Ownership Model with an Employee Stock Ownership Plan (ESOP)
- The Enchanting Tree-Talking Wizards Are Back!
- Pikmykid School Messaging Empowering Schools Across the United States
- Webinar Announcement: Benefits of Using AI in Construction
- Legionnaire Awarded $3.19M AFWERX Contract to Develop Next Generation Air-refueling System
- DeshCap can now contractually guarantee lowest Business Insurance Cost worldwide