Bitcoin Mining Difficulty Edges to All-Time High
The bump in mining difficulty comes as hashrate remains strong, despite bitcoin’s price edging downwards.Read MoreCoinDesk
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.
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.
Read more about
DISCLOSURE
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Recent Posts
This Bitcoin Bear Confirmation Is Yet To Appear, Glassnode Reveals
The on-chain analytics firm Glassnode has revealed in a report how this historical bear market…
Is This the Final Shakeout Before Bitcoin’s Next Big Move? Analysts Break It Down
Bitcoin’s recent price action has shown signs of stagnation, with the asset hovering around the…
Bitcoin Recovery in Motion? Analyst Tracks Key Divergence Between US and Asia Market
Bitcoin appears to be entering a period of consolidation following a brief burst of upward…
Bitcoin Realized Cap Sets New Record, But Momentum Fades
On-chain data shows the Bitcoin Realized Cap has surged to a new all-time high (ATH)…
Bitcoin Price Gears Up for Next Leg Higher—Upside Potential Builds
Bitcoin price is slowly moving higher above the $83,500 zone. BTC must clear the $85,200…
Bitcoin Following Gold’s Footsteps? Analyst Sets Mid-Term Target At $155,000
As gold continues to set new all-time highs (ATH) – trading at $3,333 per ounce…