According to the data, in the latest block difficulty adjustment, the mining difficulty of Bitcoin has increased by 3.45%. Although the increase rate is lower than the previous 9.26%, it has been adjusted upward for the fourth time in a row, which also makes Bitcoin The mining difficulty has once again hit an all-time high, and the current difficulty is 32.05T.
Bitcoin mining difficulty represents the difficulty for miners to produce the next block. It is adjusted every 2,016 blocks. The purpose is to maintain the speed of mining a block in an average of 10 minutes through the adjustment of computing power, which is carried out about every two weeks. Therefore, mining difficulty can also reflect the level of competition among miners. The lower the mining difficulty, the less competition.
Bitcoin mining difficulty increased by 3.8%
The heat wave cools down, and the computing power continues to return to the blood
The original mining difficulty hit a new high in mid-May this year, but the American heat wave hit, and Texas miners in the United States frequently shut down, in response to the call of the Electric Reliability Commission of Texas (ERCOT) to reduce power consumption.
With most U.S. cryptocurrency mining operations taking place in southern states, the heat wave isn’t just hitting miners in Texas, said Jason Mellerud, a senior scientist at Arcane Research: U.S. miners have been battered over the past two weeks as electricity prices spiked due to extreme heat. Shutting down the machine for a long time has slowed down the increase in electricity bills.
Recently, after the heat wave in some parts of the United States temporarily cooled, Bitcoin mining companies have restarted mining operations and added new facilities to increase mining power, which has also made Bitcoin mining difficulty reach a new high again. It also means that miners are gradually returning to the team. According to BitInfoCharts data, the computing power of the entire Bitcoin network has also recovered to the level of 288EH/s, an increase of 196% from the lowest 97EH/s in mid-July.
Miners’ profits are falling
As the overall economy is affected by the high inflation environment, the price of Bitcoin is still stagnant at the level of 20,000 US dollars. The dilemma is constantly narrowing. According to f2pool data, calculated at US$0.1 per kilowatt-hour of electricity, there are only 8 models of mining machines that are still profitable. The Antminer S19 XP Hyd. model is the highest, and the daily income is $7.42.
The mainstream model Antminer S19J only has a daily profit of US$0.81. Compared with the official price of Bitmain’s US$9,984, it can be said that the return is far away.
Post time: Sep-25-2022