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14/09/2022   Bitcoin Mining Difficulty Edges to All-Time High

The bump in mining difficulty comes as hashrate remains strong, despite bitcoin’s price edging downward.

(Midjourney/CoinDesk)

On-chain datashows 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, withrecent declineson high CPI numbers, and apossible bottomingout as low as $10,000,profitability is narrowingfor 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.
CoinDesk - Unknown

BitBitcoin: Mean Hash Rate (7d Moving Average) (Glassnode)

  • 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.

https://www.coindesk.com/business/2022/09/14/bitcoin-mining-difficulty-edges-to-all-time-high/