Bitcoin Mining 5% Easier After Recent Difficulty Decrease: Analysis
Bitcoin mining is 5% easier after the last difficulty fell for the fourth time in a row, as we can see more on our latest bitcoin news today.
The recent decline in difficulty means that Bitcoin mining is 5% easier because mining is as easy now as it was a year and a half ago. The hash rate has improved over the last month and mining BTC has not been easy since January. BTC difficulty determines how difficult it is to mine a cryptocurrency and, according to BTC, has fallen another 4.81% overnight on the most recent drop. com data. To put it simply, BTC mining is easier everywhere except China, where it got a lot tougher after the government cracked down on the industry and forced miners to leave the country and break the hash rate. The Chinese raid, which began in June, reduced the difficulty level by about 7.5 trillion points, and on May 30, prior to the raid, bitcoin mining had a difficulty level of 21.05 trillion dong and then fell four times in a row the current level of 13.67 trillion dong.
Bitcoin mining difficulty is down 4.81%, the fourth decline in a row, and the difficulty has hit a new low since January 2020. pic.twitter.com/3ruvXBETqp
– Wu blockchain (@WuBlockchain) July 18, 2021
The BTC network calculates how difficult it is to mine BTC and how much computing power it takes to earn BTC according to the supply and demand of miners. The fewer miners there are online, the easier it will be to mine BTC. The last throttling was less than a fifth of the drop in performance from the previous one and between June 13th and July 3rd Julyapprox That year, after a miners raid in China, BTC saw mining difficulties decrease by 28% and then went offline. China’s Xinjiang Province issued a shutdown order to disclose BTC miners, and a few days later the Sichuan city of Ya’an closed 26 other mining operations and then lowered its hash rate by 17%.
I’ve noticed that very few people notice #Bitcoin The random hash rate increased ~ 20% in the first two weeks of July.
I never apologized for making myself rich, and I will never apologize for those moments when winners buy with leverage and losers don’t. pic.twitter.com/UbSZb6gBsz
– John Lilic (@JohnLilic) July 17, 2021
China still accounts for 46.04% of BTC’s monthly hash rate, up 20% since April, according to Cambridge University’s Center for Alternative Finance. Bitcoin’s hash rate began to rise in late June, and the hash rate has since recovered by 20%. The bitcoins had to weather the storm coming from China, but the network is starting to recover. While today’s hash rate of 101.6 EH / s is still 99 EH / s below the network’s previous ATH, it appears that the miners survived the worst.
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