Bitcoin mining difficulty surges to peak levels, mounting pressure on profit margins
Share link:In this post: BTC mining difficulty surged by 3.6% to an all-time high of 92.67 trillion from 89.47 trillion. Bitcoin’s overall hashrate also rose to an all-time high of 700 EH/s but has since dwindled to 670 EH/s. BTC miners liquidated over 30,000 BTC worth $1.71 billion in 72 hours, according to Santiment.
Bitcoin mining difficulty surged by 3.6% to an all-time high of 92.67 trillion from 89.47 trillion. Bitcoin’s hash rate also recently rose to peak levels of 700 EH/s but has now settled at 670 EH/s. The increased mining difficulty has significantly mounted pressure on the profit margins of the mining venture.
Bitcoin mining difficulty brought the digital asset to the spotlight after surging to an all-time high. The 3.6% increase in mining difficulty has threatened the profitability of the mining venture by reducing the mining profit margins.
The rising difficulty portrays the competitive environment for Bitcoin miners on the network as more miners scramble for limited block rewards. The competition is constructive for enhancing network security and decentralization. However, miners are struggling to remain afloat with declining profit margins.
BTC mining difficulty peaks at 92.67 trillion
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