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Bitcoin Mining Difficulty Re-Ups High

by Vaibhav
May 18, 2023
in News
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Mining_Price-min

As a result of the next recalculation, the difficulty of mining the first cryptocurrency increased by 3.22%. The indicator updated its high at 49.55 T.

Snimok-ekrana-2023-05-18-v-10.41.20
Data: btc.com.

The average hashrate over a period of two weeks since the previous change was a record 367.3 EH / s. This indicates the continued increase in computing power by miners.

According to GlassnodeOn May 15, the smoothed 7-day moving average peaked at 368.3 EH/s. Then it corrected to 365 EH/s.

glassnode-studio_bitcoin-mean-hash-rate-7d-moving-average-4
Data: Glassnode.

The increase in mining difficulty, combined with the decline in the price of bitcoin, has become a likely reason for the subsidence of miners’ income. However, according to Hashrate Indexlast 24 hours hashprice increased slightly – from $76 per PH per day to $78.

See also  Bitcoin miners are profiting from the increase in mining difficulty to a 3-month low.
Snimok-ekrana-2023-05-18-v-10.58.09
Data: Hashrate Index.

Recall that in May, the daily receipts of bitcoin miners from commissions in terms of the block for the fifth time in history exceeded the rewards from its production (6.25 BTC). Glassnode analysts explained that the situation is related to the growing issuance of BRC-20 tokens.

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Mining_Price-min

As a result of the next recalculation, the difficulty of mining the first cryptocurrency increased by 3.22%. The indicator updated its high at 49.55 T.

See also  Binance to Curtail Operations in Canada Due to Tighter Regulation
Snimok-ekrana-2023-05-18-v-10.41.20
Data: btc.com.

The average hashrate over a period of two weeks since the previous change was a record 367.3 EH / s. This indicates the continued increase in computing power by miners.

According to GlassnodeOn May 15, the smoothed 7-day moving average peaked at 368.3 EH/s. Then it corrected to 365 EH/s.

glassnode-studio_bitcoin-mean-hash-rate-7d-moving-average-4
Data: Glassnode.

The increase in mining difficulty, combined with the decline in the price of bitcoin, has become a likely reason for the subsidence of miners’ income. However, according to Hashrate Indexlast 24 hours hashprice increased slightly – from $76 per PH per day to $78.

See also  Medium removed Arthur Hayes' exposé about the American economy
Snimok-ekrana-2023-05-18-v-10.58.09
Data: Hashrate Index.

Recall that in May, the daily receipts of bitcoin miners from commissions in terms of the block for the fifth time in history exceeded the rewards from its production (6.25 BTC). Glassnode analysts explained that the situation is related to the growing issuance of BRC-20 tokens.

Subscribe to Cryplogger on social networks

Found a mistake in the text? Select it and press CTRL+ENTER

Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!

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