Bitcoin Mining Difficulty Cuts the Drop Streak

Bitcoin mining rigs. Source: Adobe/amixstudio


Following a nearly two-month-lengthy drop streak, Bitcoin (BTC) mining got a little more difficult.

Bitcoin mining difficulty, or even the way of measuring how hard it’s to compete for mining rewards, increased 1.74% today, going from 27.69 T to twenty-eight.17 T.

An upswing follows three consecutive drops, a streak that started within the other half of June, all of the which switched to be the biggest drop each year.  

Meanwhile, hashrate, or even the computational power the network, has witnessed a rise in yesteryear two days. Because the previous adjustment, the 7-day moving average hashrate increased by 2.75%, per data.

Bitcoin mining profitability elevated too, rising 9.2% within the same period.

 7-day moving average. Source:

Particularly, regardless of the recent general improvement within the crypto markets, in the last fourteen days, the cost of BTC fell by almost 2%. At 13:22 UTC, the gold coin was buying and selling at USD 22,917, lower almost 2% per day, unchanged per week, or more 13% inside a month.

Meanwhile, according to ByteTree data, miners have ongoing spending much more of their recently generated BTC, when compared with what they’ve held.



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