Hashrate Market Weekly Report (2020.12.12-2020.12.18)

1. About the BTC hashrate market

Summary: This week, BTC prices entered an upward range, and mining machine prices increased significantly.

As of the date of publication on December 18, the top three BTC mining machines in terms of profitability are still: S19, S19Pro, and M30S.

This week, the BTC price has broken through its all-time high and is still rising rapidly. The daily profits of mining machines have increased significantly compared to before, and the prices of most models on the market have increased significantly: the price of S19 has increased by 20.2%, and the price of S19Pro has increased by 7% (because the January futures of S19Pro have been sold out and there is basically no one selling them in the market, so the price does not fluctuate much).

Chart citation: veryhash.com

Last week, we learned from the mining industry that some mining machine manufacturers have some inventory products in December that are being sold on the secondary market. However, since the manufacturer does not provide after-sales warranty service, although it is sold in spot, the market is not very eager to buy it. In addition, the BTC price has hit new highs, so it basically has no impact on the January futures price. In addition, the January futures of S19Pro have been sold out, and S19 is about to be out of stock. As of the date of publication, the futures price of S19 in January is 25,000 yuan, and the futures price in February is 23,000 yuan.

2. About the ETH hashrate market

Summary: This week, the price of ETH followed the rise of BTC price, and the price of ETH mining machines also rose accordingly.

As of the publication date on December 18, the top three ETH mining machines in terms of profitability are: Wolf God B3, Innosilicon A10Pro, and Ethereum Bull Z7. Since the market share of Ethereum Bull Z7 is relatively small and there is not much supply on the market, its reference value is ignored.

The price of ETH mining machines is basically consistent with that of BTC mining machines in terms of logic, and both are affected by the rise in the price of the currency and the supply of mining machines. As can be seen from the above figure, the price of ETH has risen by 18.8% this week, and the daily gross income of each Wolf God B3 and Innosilicon A10Pro is 194.28 yuan and 254.34 yuan respectively.

Chart citation: veryhash.com

The price of Langshen B3 increased by 6.75%, and the price of Xindong A10Pro increased by 3.71%. In addition, there is no spot in the market for A10Pro, and the earliest is the futures at the end of December, and no one has shipped Langshen B3. In addition, the rise in the price of coins has also led to the increase in the price of graphics cards in the normal computer market. Therefore, it can be concluded that the price of graphics card mining machines in the ETH mining machine market is also rising. The payback period of Langshen B3 and Xindong A10Pro is 200 days and 161 days respectively.

3. About Filecoin Hashrate Market

Summary: Filecoin GAS fees fluctuated greatly this week, which had a significant impact on many miners, so an improvement plan was proposed.

Chart reference: https://filfox.info

The above figure shows the data from 2020.12.11, and the figure below shows the data from 2020.12.18. By comparing the two figures, we can find that the effective computing power of the entire network has increased by 100P this week, an increase of 7.51% over last week, 35 more miners, and 6.45% more Fil pledged. It can be concluded that the filecoin network has maintained a relatively healthy growth rate.

Chart citation: veryhash.com

The above picture shows the price fluctuation of Fil coin this week. Generally speaking, it is in a downward trend and did not rise with BTC. It still has its own independent market trend as before.

Chart reference: https://filfox.info

According to the data from Feihu Browser, the gas fee this week still maintained a large fluctuation as before, but overall, compared with last week, the gas fee this week is on a downward trend. In the face of the unfriendly gas fee in the network to miners, the filecoin community submitted the filecoin improvement plan (FIP) this week.

The proposals (FIPs) are divided into three categories: Technical FIPs (FTP), Organizational FIPs (FOP), and Recovery FIPs (FRP), with eight specific proposals:

The Technical FIP (FTP) is designed to collect community feedback on Filecoin technical issues, including:

• Changes to the Filecoin Protocol

• Changes to block or transaction validity rules

• Recommended application standards or conventions

It is then reviewed by the Filecoin community and the Technical Steering Committee, followed by a PR to the Filecoin specification repository to update the protocol’s specifications.

Organization FIPs (FOPs) allow the Filecoin community to propose, discuss, and reach consensus on Filecoin governance. This includes procedures, guidelines, decisions, and changes to the FIP process.

Recovery FIPs (FRPs) are intended to provide a forum for the Filecoin community to resolve disputes under very limited, well-defined criteria (e.g., in the case of a protocol bug that destroys the value of the network).

The above eight specific solutions solve the current high Filecoin gas fees and problems encountered from three aspects: technology, governance, and standards, so as to make the Filecoin community develop more stably.

Finally, it should be reminded that Filecoin mining is still in its early stages of development, and investors need to raise their awareness of risk prevention and participate with caution.

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