Mining Profitability Collapses — Bitcoin Mining Diffculty Adjustment Overview
<h1>Bitcoin’s Total Hashrate</h1>
<p>After a brief period of relative stability, Bitcoin’s hashrate reached yet another all-time high.</p>
<p>This shouldn’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’t really play out for miners this time. Just when they were catching up with Bitcoin’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 <strong>397.74 EH/s </strong>—<strong> </strong>a new all time-high for difficulty adjustments — and keeps growing as we approach the next mining epoch.</p>
<h1>Bitcoin’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 <strong>6.17% </strong>more difficult. Difficulty is now sitting at <strong>55.62T </strong>— 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>