Mining at Bitcoin
Blockchain is on its way to fall most since July 2021, after the amount of mining that ensures that the network slid approx. 30% in two weeks.
According to data from Mempool.Space, a downward difficulty adjustment of approx. 9% within the next five days. That would be the most since China -mining ban four years ago, when the hash rate, the total computing power used for my blocks, dropped 50% to 58 exahashes per year. Second (EH/S) and Bitcoin traded nearly $ 30,000.
The problem is adjusted every 2,016 blocks to ensure that blocks continue to be extracted by approx. 10 minutes intervals. After the recent decline, the hash rate is now almost 700 EH/S, according to Glassnode data. The largest cryptocurrency of market capital recently traded around $ 105,300.
Corrections of significant hash rate and difficulties are not unusual during the summer of the northern hemisphere. Increased electricity prices, driven by higher demand for air conditioning and strained power networks, often lead miners to temporarily close machines, especially older or less efficient. This seasonal pattern has been observed in several previous years.
The expected decrease in mining difficulties will give meaningful relief to miners. The hash price or miner income per Exahash is currently at $ 51.9. This metric reflects the estimated daily income in dollars that a miner earns per day. EH/S, which contributes to the network, based on block pay and transaction fees.
As the difficulties fall, mining becomes easier, which means miners can earn more revenue for the same amount of calculation efforts. Assuming Bitcoin’s price and transaction fees remain stable or increased, the hash price should increase significantly in the coming days, which will help offset the recent profitability pressure.
