Bitcoin mining difficulty edges to all-time high
|On-chain data shows that Bitcoin’s mining difficulty has crossed an all-time high with its latest jump, the second in two weeks.
Bitcoin’s mining difficulty increased by 3.45% at block height 753,984 to 32.05 trillion hashes.
This is the second significant recent increase. On Aug. 31, the difficulty jumped by 9.26%.
Given Bitcoin’s compressed value, with recent declines on high CPI numbers, and a possible bottoming out as low as $10,000, profitability is narrowing for miners.
Despite concerns about profitability, the average hash rate remains above 200 exahash per second at 229.39 EH/s, close to the all-time high of 231 EH/s.
BitBitcoin: Mean Hash Rate (7d Moving Average) (Glassnode)
On-chain data shows that DCG-owned Foundry USA is currently contributing 28% of the total global hash rate followed by AntPool at 16.15%.
CoinDesk is an independent subsidiary of Digital Currency Group, the crypto-focused conglomerate that also owns Grayscale and TradeBlock.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.