Bitcoin mining difficulty rises by 1,7% for the first time in two months
Now, this figure is 27,17 T and the average hashrate of the network is 197,16 EH/s
05.08.2022 - 09:45
883
2 min
0
What’s new? After the last recalculation on August 4, bitcoin’s mining difficulty raised by 1,74%, to 28,17 T. For the first time since June, this figure showed a positive trend. Also, according to BTC.com, the network’s average hashrate rose to 197,16 EH/s. As of August 5, 08:50 UTC, BTC is trading at $23 104, having gained 1,3% per day, according to Binance.
Hashrate is the total computational power in the bitcoin network. The mining difficulty determines the amount of computing power it takes to find a new block in the blockchain. The parameter changes every 2016 blocks, or about once every two weeks. This ensures that the time it takes to find a block is around 10 minutes.
Situation in the field of mining. In July, Ethereum again overtook bitcoin in terms of mining profitability. The monthly revenues of cryptocurrency miners were $596,33 million and $574,89 million, respectively. In July, bitcoin miners’ revenues fell by 13% compared to June’s figures.
Total BTC mining revenue over the past year also fell by 40% from July 2021, when about $971,83 million in revenue was recorded. However, the total balance of bitcoin miners reached a 4-year high on July 29. A total of 1 845 303 BTC were held in their reserves, representing 9,6% of the first cryptocurrency’s current issue.
According to the Bitcoin Mining Council’s report for the second quarter, mining energy consumption increased by 63% over the year. Hashrate increased by 137% over the same period. BMC also found that cryptocurrency mining consumes 0,15% of the world’s electricity.
Useful material?
Telegram 
Twitter Technologies
Network fees will be integrated into the cost of swaps
Nov 22, 2024
Market
The company’s unrealized profits from investing in its first cryptocurrency approached $14 billion
Nov 19, 2024
Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Cryptocurrency rates
-
Bitcoin
$99 283
BTC
+2.06%
-
Ethereum
$3 321.49
ETH
-0.03%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.46
XRP
+31.53%
-
Dogecoin
$0.410798
DOGE
+7.17%
-
Cardano
$0.969986
ADA
+22.82%
-
Bitcoin Cash
$489.51
BCH
+1.77%
-
Polkadot
$6.32
DOT
+9.4%
-
Stellar XLM
$0.300785
XLM
+26.77%
-
Litecoin
$90.48
LTC
+2.51%