Bitcoin mining difficulty and hash rate hit all-time highs. The current hash price of $0.12 TH/s/d is the lowest in the previous year.
The poor advantageousness of this action has not overpowered Bitcoin miners; this event generated a new record in the difficulty of BTC mining.
Bitcoin mining difficulty achieved new positions after approaching 31.2 trillion. Its previous value was 29.7 T, implying growth of at least 5% from its last adjustment.
The Bitcoin mining difficulty accommodation is a procedure that intends to set up a balance on the production of blocks in the network. This procedure automatically achieved every 2016 mined block, a job that requires at least two weeks to reach its completion.
If the standard hash rate on the network is too high, raise the difficulty, but the mining difficulty would approach decaying levels if the standard hash rate is low. The Bitcoin network intends with this action to keep a standard of 1 mined block every ten minutes.
The Hash Rate of the Bitcoin Platform is also Reaching New Peaks
According to the numbers presented by Braiins, the Bitcoin hash rate has become a high peak once again and registered at 228 exa hashes per second (EH/s). This situation represents a fast recovery after the slight decay it presented days ago.
The Lower the Hash Price, the Higher the Hash Rate
Contrary to hash rate and mining difficulty, Bitcoin mining profitability is down. Bitcoin’s hash price today is $0.12 per tera hash per second per day (TH/s/d). This situation means that an Antminer S19 model ASIC miner should mark daily gross earnings valued at $11.40, although these earnings might oscillate according to the energy cost.
Variations might apply control over the flows in the hash price, the difficulty that mining implies, commissions per transaction,, and the cost of Bitcoin in the market.
The increase in the difficulty of mining led to a drop of more than 50% in hash cost in March. The current hash cost is the lowest registered in the last year.
The most curious thing about this drop in hash price is the behavior of Bitcoin miners, who have been gradually increasing their hash rate instead of sending it to low status.
The increase in mining capacity when profitability is low has happened before. In other moments when the network has faced similar situations, the workers’ response to the first digital asset has been the same.
In the statistics studied in September 2021, the Bitcoin hash rate kept increasing while the mining profitability had crumbled down by more than 25% in a month.
Regarding the mining pools, which gather the processing power of all the individual miners in different operating groups worldwide, there were essential changes in their ranking or positioning since our last Noti Hash.
According to BTC.com, there were two significant movements in the position of the mining pools. Specifically, the F2Pool collection rose from fourth to second place in processing power, with 23,376 Penta hashes per second (PH/s). Also, the BTC.com pool rose from seventh to sixth place, displacing the Foundry USA pool.
By: Jenson Nuñez
