Bitcoin network fundamentals have remained unfazed by its spot price failing to show any crucial breakouts.from BTC.com, its mining difficulty has tapped a new high of 32.05 trillion hashes at a block height of 753,984 after an increase of 3.45%.This is the fourth such increase since the drop in difficulty adjustment in the last week of July. The previous jump saw an uptick of 9.2%, from around 28.3 trillion hashes to 30.9 trillion hashes.
Last month, Texas miners suspended operations to help the energy grid and conserve energy during a heatwave, This move was speculated to make cryptocurrency easier to mine. However, they switched back on a few weeks later.The latest difficulty rise is now expected to pressurize miners’ profit margin if the price fails to rally. Currently, BTC struggles to remain above $20,000. This still strains major public miners to achieve profitability on each bitcoin mined.
Furthermore, Bitcoin mining consultancy firm Blocksbridge, in the latest edition of its “Miner Weekly,” stated that the current “bear market is really crashing those with inefficient mining fleets.”
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Coin Coin Latest News, Coin Coin Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin's Mining Difficulty Taps All-Time High — 220 Exahash of Hashpower Remains Strong – Mining Bitcoin NewsAfter two difficulty increases during the past month, the network’s mining difficulty jumped another 3.45% higher on September 13. Airdrop campaign now ✅ The craziest airdrop is Live 💰 Airdrop campaign now ✅
Source: BTCTN - 🏆 531. / 51 Read more »
Bitcoin Mining Difficulty Edges to All-Time HighBitcoin has had a rough year, but mining difficulty is at an all-time high and global hash rate remains strong. thesamreynolds reports. thesamreynolds The craziest airdrop is Live 💰 thesamreynolds Whyy ain’tt none bothered on talkinn about this? thesamreynolds Crazy returns in airdrop now 🎁
Source: CoinDesk - 🏆 291. / 63 Read more »
Suggestions That Bitcoin Halving Might Come Sooner Are Mostly WrongCan a jump in hashrate push the Bitcoin halving from 2024 to 2023 as some are claiming? FrederickMunawa reports FrederickMunawa 🚀 Thnks a millon FrederickMunawa Crazy returns in airdrop now 🎁 FrederickMunawa I can’t explain how I feel each times I my profit from your platform, all I can say is you are a trustworthy manager Mr ronald kent via telegram👇👇👇👇
Source: CoinDesk - 🏆 291. / 63 Read more »
Bitcoin Hash Rate Marks New All-Time High After 55% Increase in 2 MonthsThe hash rate has increased by more than 50% since the mid-July slump.
Source: Crypto_Potato - 🏆 568. / 51 Read more »
Bitcoin margin long-to-short ratio at Bitfinex reach the highest level everThe long-to-short ratio of leveraged traders at Bitfinex just soared to a new all-time high! noshitcoins explains why this is not necessarily a bullish event. 🚀 Thnks a millon. noshitcoins why noboody talking about this? noshitcoins 🚀 Thnks a millon
Source: Cointelegraph - 🏆 562. / 51 Read more »