Mining Profitability Collapses — Bitcoin Mining Diffculty Adjustment Overview

<h1>Bitcoin&rsquo;s Total Hashrate</h1> <p>After a brief period of relative stability, Bitcoin&rsquo;s hashrate reached yet another all-time high.</p> <p>This shouldn&rsquo;t come as a surprise, as it coincides with a historical trend regarding the Bitcoin mining ecosystem: hashrate tends to follow price with a few weeks of lag.</p> <p>However, timing didn&rsquo;t really play out for miners this time. Just when they were catching up with Bitcoin&rsquo;s rally to $30K, they were hit with a strong correction back to $26K.</p> <p><img alt="" src="https://miro.medium.com/v2/resize:fit:700/1*oLdwgZIgpShn2EeDYo7vIg.png" style="height:407px; width:700px" /></p> <p>Bitcoin price action and total hashrate.</p> <p>Despite this, hashrate at the time of the adjustment still managed to average&nbsp;<strong>397.74 EH/s&nbsp;</strong>&mdash;<strong>&nbsp;</strong>a new all time-high for difficulty adjustments &mdash; and keeps growing as we approach the next mining epoch.</p> <h1>Bitcoin&rsquo;s Mining Difficulty</h1> <p>Naturally, a new hashrate all-time high has also led to a new high in difficulty.</p> <p>Indeed, mining a new Bitcoin block has become&nbsp;<strong>6.17%&nbsp;</strong>more difficult. Difficulty is now sitting at&nbsp;<strong>55.62T&nbsp;</strong>&mdash; its maximum level ever.</p> <p><a href="https://medium.com/lumerin-blog/mining-profitability-collapses-bitcoin-mining-diffculty-adjustment-overview-14dae4b4dbe"><strong>Learn More</strong></a></p>
Tags: Bitcoin Mining