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.

Bitcoin

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.

All writers’ opinions are their own and do not constitute financial advice in any way whatsoever. Nothing published by CoinDesk constitutes an investment recommendation, nor should any data or Content published by CoinDesk be relied upon for any investment activities. CoinDesk strongly recommends that you perform your own independent research and/or speak with a qualified investment professional before making any financial decisions.

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