Data shows the Litecoin mining hashrate is approaching a new all-time high, despite miners earning half the rewards since the halving.
Litecoin Mining Hashrate Is Close To Setting A New All-Time High
Like Bitcoin, Litecoin is a proof-of-work (PoW) network, meaning that chain validators called miners have to compete against each other using computing power to get a chance of hashing the next block.
The “mining hashrate” is an indicator that keeps track of the total amount of such computing power that miners have currently connected to the Litecoin network.
This computing power can be expensive, as aside from the initial cost of setting up the mining rigs, there is also the continuous running cost in the form of electricity bills.
Miners naturally pay these costs off using the revenue that they earn for mining on the network. There are two forms of revenue that miners receive: the transaction fees that they get for solving individual transactions and the block rewards that they earn

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