Trending...
- TijaraIQ.com Launches as Iraq's Free Marketplace for Buying, Selling, and Creating Opportunities
- LIB Empowers Uzbekistan's Automotive Industry: A New Era of Quality Assurance
- Shape the Future of OpenSSL: Election Period Open Now!
The Twelfth Edition of the CryptoSuper500 Report Shows Bitcoin's annual economic value (AEV) at $11.6B
MENLO PARK, Calif. - illiNews -- OrionX Research today released the twelfth edition of its CryptoSuper500 list. The list recognizes cryptocurrency mining as a form of supercomputing application, tracks the top mining pools, and offers a snapshot of the cryptocurrency industry. CryptoSuper500 was developed by Dr. Stephen Perrenod, OrionX Partner and noted crypto analyst who has also created a top-ranking Bitcoin evaluation model based on the power law and the Weibull S-curve cumulative distribution function, and elucidated the concept of the "blockchain calendar".
With 15 years of history behind it, and increasing acceptance globally, Bitcoin is now a trillion- dollar asset again, available for sale through various exchanges, as well as custodied with Exchange Traded Funds (ETF) from traditional financial institutions. With the fourth halving of the block reward last month, 19.7 million bitcoins have now been issued out of the 21 million maximum supply. The inflation rate is now less than 0.8%, half of that for gold and will be cut in half again in 2028.
The Bitcoin network is a Zettascale decentralized supercomputer whose behavior is reminiscent of a capable AI model because of its anti-fragile resilience and uncanny adherence to power laws. Bitcoin's market cap has risen faster than the sixth power of its age, and the price at well over the fifth power, during its lifetime. The total user count has risen as the third power of time.
More on illi News
"The decentralized Bitcoin network that validates and protects the Bitcoin blockchain has emerged as a great example of a specialized supercomputer," said Dr. Stephen Perrenod, OrionX Partner and Analyst. "With the emergence of chiplets, there is a growing trend towards using specialized computational modules to increase the performance and energy efficiency of supercomputers. While hashing is not the same as 64-bit floating point workloads, it demonstrates the effectiveness of the specialized-silicon strategy."
The world's fastest centralized supercomputer, Frontier at DOE's Oak Ridge National Lab, has 47,000 CPUs and GPUs delivering 1.2 Exaflops. The world's largest recently announced AI supercomputer is the Aurora system at Argonne National Lab with 10.6 Exaflops of short floating point arithmetic on 9,500 nodes. By contrast, the Bitcoin network has 500 to 600 Exahashes of sustained computational power fueled by several million ASIC-based mining systems.
As with traditional supercomputers, energy efficiency is an important parameter for Bitcoin. As a gross estimate exercise, if one were to build the current Bitcoin global hash power from the latest high end Whatsminer 63S Hydro systems it would require 124,145 water cooled cabinets (located around the world) with a total weight of 95 megatons and a power requirement of 11 GigaWatts. The current average electricity consumption is uncertain but about 14 GW or 120 TeraWatt-hours per annum. Bitcoin electricity input is greener than average since it seeks out the lowest cost electricity and can be located at the source. It also provides grid load-balancing since usage can be curtailed quickly as required.
More on illi News
In this latest report Bitcoin miners are producing $11.6 billion of annual economic value for Bitcoin, and for Dogecoin nearly $1 billion, for an aggregate $12.5 billion. This is a factor of 2.2 increase over 5 years and is much less steep than the price increase of 10 times during that interval because of the extremely competitive nature of the Bitcoin mining industry and the rapid rise in hash rate.
In 2018 roughly 2/3 of mining hash rate was in China. Since the Chinese mining ban in mid 2021 the US has become the leading source of mining hash rate. Nearly 30% of global hash rate is now located in a dozen publicly traded venture funded mining companies, who mine for themselves and also host ASIC equipment for customers. Their collective market cap is $17 billion.
The first CryptoSuper500 report was released five and a half years ago in November 2018. All twelve reports are available on the OrionX website without requiring registration or payment.
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 technology leaders and financial institutions 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.
With 15 years of history behind it, and increasing acceptance globally, Bitcoin is now a trillion- dollar asset again, available for sale through various exchanges, as well as custodied with Exchange Traded Funds (ETF) from traditional financial institutions. With the fourth halving of the block reward last month, 19.7 million bitcoins have now been issued out of the 21 million maximum supply. The inflation rate is now less than 0.8%, half of that for gold and will be cut in half again in 2028.
The Bitcoin network is a Zettascale decentralized supercomputer whose behavior is reminiscent of a capable AI model because of its anti-fragile resilience and uncanny adherence to power laws. Bitcoin's market cap has risen faster than the sixth power of its age, and the price at well over the fifth power, during its lifetime. The total user count has risen as the third power of time.
More on illi News
- Century Fasteners Corp. Receives Accreditation to AS9120B Quality Management Systems
- Material Capital Partners Closes Financing for 170-Unit Build-For-Rent Community in Brunswick, Georgia
- The Computer Works Secures Growth Capital to Expand Fiber Connectivity
- Cellwatch Parent, NDSL, Merges with RLE Technologies; Forms New Platform, Parameter, Strengthening Solutions for Data Centers and Critical Infrastructure Amid Surging AI Power Needs
- New Release: Kannazuki, Vol. 1: The Beast Of Akune Shakes Up the Fantasy Genre!
"The decentralized Bitcoin network that validates and protects the Bitcoin blockchain has emerged as a great example of a specialized supercomputer," said Dr. Stephen Perrenod, OrionX Partner and Analyst. "With the emergence of chiplets, there is a growing trend towards using specialized computational modules to increase the performance and energy efficiency of supercomputers. While hashing is not the same as 64-bit floating point workloads, it demonstrates the effectiveness of the specialized-silicon strategy."
The world's fastest centralized supercomputer, Frontier at DOE's Oak Ridge National Lab, has 47,000 CPUs and GPUs delivering 1.2 Exaflops. The world's largest recently announced AI supercomputer is the Aurora system at Argonne National Lab with 10.6 Exaflops of short floating point arithmetic on 9,500 nodes. By contrast, the Bitcoin network has 500 to 600 Exahashes of sustained computational power fueled by several million ASIC-based mining systems.
As with traditional supercomputers, energy efficiency is an important parameter for Bitcoin. As a gross estimate exercise, if one were to build the current Bitcoin global hash power from the latest high end Whatsminer 63S Hydro systems it would require 124,145 water cooled cabinets (located around the world) with a total weight of 95 megatons and a power requirement of 11 GigaWatts. The current average electricity consumption is uncertain but about 14 GW or 120 TeraWatt-hours per annum. Bitcoin electricity input is greener than average since it seeks out the lowest cost electricity and can be located at the source. It also provides grid load-balancing since usage can be curtailed quickly as required.
More on illi News
- Reel Sung Productions Announces the Debut of the Docuseries, 'You Can't Erase Me'
- Now Shipping Epson ColorWorks CW-C8000 Color Label Printers Across the USA and Canada
- Purfresh Clean launches its new "SPACE" product - An innovative technology restaurants are using to get rid of their rat and mice problems
- The Ergo Company presents Old Righteous Blues A Compelling South African Tale
- L.A. County Board of Supervisors Recognizes Amapola Market for Outstanding Community Philanthropy
In this latest report Bitcoin miners are producing $11.6 billion of annual economic value for Bitcoin, and for Dogecoin nearly $1 billion, for an aggregate $12.5 billion. This is a factor of 2.2 increase over 5 years and is much less steep than the price increase of 10 times during that interval because of the extremely competitive nature of the Bitcoin mining industry and the rapid rise in hash rate.
In 2018 roughly 2/3 of mining hash rate was in China. Since the Chinese mining ban in mid 2021 the US has become the leading source of mining hash rate. Nearly 30% of global hash rate is now located in a dozen publicly traded venture funded mining companies, who mine for themselves and also host ASIC equipment for customers. Their collective market cap is $17 billion.
The first CryptoSuper500 report was released five and a half years ago in November 2018. All twelve reports are available on the OrionX website without requiring registration or payment.
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 technology leaders and financial institutions 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
Filed Under: Technology, Government
0 Comments
Latest on illi News
- Rising Stars Romulus First Debuts Genre-Bending Album "Reality"
- TEAMSTERS TO PEPSI: NO WAY ON NDAS
- Inspiring the Full Arch Industry: Dr. James Fetsch Speaks At The Full Arch Growth Conference 2024
- The Score Album for "The Lost Weekend: A Love Story" Released Today
- Youth Group Makes History as First Visitors to National Electronics Museum
- Pololikashvili runs for re-election as UN Tourism Secretary General for 2026-2029 term
- Ortega® Taps Schafer Condon Carter as New Agency of Record
- Shape the Future of OpenSSL: Election Period Open Now!
- LIB Empowers Uzbekistan's Automotive Industry: A New Era of Quality Assurance
- TijaraIQ.com Launches as Iraq's Free Marketplace for Buying, Selling, and Creating Opportunities
- Big News!! Best Sac Homes Group Partners with LPT Realty
- Chicago: Mayor Brandon Johnson and the Mayor's Office of Community Safety Announce the Launch of the Office of Re-entry Led by Director Joseph Mapp
- Juventix Regenerative Medical PRP Highlighted in University-Published Research Study
- State Agencies & Private Sector Join Forces with BrightKey to Combat Fentanyl in Correctional Facil
- How2College Launches Making the Most of Your College Commute: A New Resource for Commuter Students
- Dale Sorensen Real Estate Names Donna Browning Vice President of Sales, Announcing Her Return to the Company
- Dr. Barrie Matthews of Big Sky Smile Center Speaks at the Full Arch Growth Conference, Inspiring Dentists Nationwide
- Dr. Sathish Palayam Speaks at the Full Arch Growth Conference, Sharing Insights to Revolutionize Patient Care!
- Cawley Completes Over 200,000 SF of Tenant Representation Deals in the Last 30 Days
- Invenergy to Provide over 760MW in Renewable Energy, Supporting Meta's Energy needs in line with its Clean and Renewable Energy Goals