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Bitcoin mining difficulty reaches historic high

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Bitcoin mining difficulty reaches historic high


A new difficulty ATH

Yesterday, the difficulty of mining the Bitcoin (BTC) established a new all-time high (ATH) and went from 15.78 T at 17.35 T.

Bitcoin mining difficulty history

Bitcoin mining difficulty history – Source: BTC.com

Bitcoin mining difficulty adjusts every 2,016 blocks, or approximately every 14 days. The purpose of this function is to ensure that the average interval between the creation of blocks stays around 10 minutes.

BTC.com estimates that in almost two weeks, the difficulty of mining should again climb by almost 10% and go over 19 T.

Although this can be seen positively, many minors who do not have the capacity to keep pace are forced to abandon their activities.

A greater difficulty in mining has a direct impact on the profitability of this activity, which pushes certain miners to sell their machines.

Still widely used around the world, Antminer S9 of Bitmain may soon be completely obsolete in the face of the new models put on the market.

However, this older generation model is still profitable in China, in particular due to the low cost of electricity applied in the regions where Bitcoin hashrate is concentrated.

👉 Visualize the distribution of Bitcoin hashrate with an interactive map

Bitcoin recovers completely from “Black Thursday”

In mid-March, the whole cryptocurrency market was hit by a “Black Thursday”, a crash causing the fall in prices, but also the difficulty of mining and hashrate Bitcoin.

Today, these two components used to measure the health of the Bitcoin network return for the first time to above their values ​​before this event.

Indeed, in parallel with this increase in the difficulty of mining, Bitcoin is also experiencing a record hashrate, with over 125,000,000 terahashs per second (TH / s) allocated to his network, a level he had never reached before.

The hashrate and the difficulty of mining reaching historic heights in recent days, any concern about the impact of the halving on these components of Bitcoin now seems to be ancient history.

👉 To find out more: Two months after its halving, the Bitcoin hashrate has an absolute record

The hashrate and the difficulty of mining having reached historic heights, any concern about the impact of halving on these components of Bitcoin now seems to be ancient historye.

👉 To go further: What is a halving and what impacts on Bitcoin and cryptocurrencies?

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About the Author : Clement Wardzala

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Since 2017, I have been interested in Bitcoin, cryptocurrencies and associated blockchain technology. I firmly believe in these technological innovations and that they are already revolutionizing many sectors.
All articles by Clément Wardzala.





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