Bitcoin mining difficulty rises to a new high

Bitcoin mining difficulty rises to a new high

On May 11, as a result of another recalculation, the complexity of mining the first Cryptocurrency increased by 4.89% and reached a record 31.25T.

Since the beginning of 2022, the indicator has been adjusted negative only three times. The maximum decrease was 1.49%.

The average hash rate has reached 223.7 EH/s since the previous recalculation.

According to Glassnode, the smoothed seven-day moving average of Bitcoin network computing power is 222.2 EH/s. The maximum of 227.2 EH/s was recorded on May 5.

Over 2022 the hash rate increased by approximately 32%.

Earlier, Arcane Research analysts noted pressure on Mining profitability because of Bitcoin’s declining price and rising hash rate.

At the time of their research, the first Cryptocurrency was trading at levels around $40,000. On May 10, digital gold quotes were dipping below $30,000.

In April, the total income of miners amounted to $1.15 billion – down 4% from the previous month.

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Written by Renat
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