Research: Bitcoin mining difficulty adjusts over 13%, the highest since May 2021

The Bitcoin web has reached its all-time precocious successful presumption of hash rate, surpassing most projections.

The network’s full hash complaint presently stands astatine 240 EH/s and is expected to summation adjacent further.

The existent hash complaint represents a 3x summation from the network’s lows successful July 2021 erstwhile a authorities prohibition triggered a miner exodus from China. The hash complaint past dropped to a two-year debased of astir 89 EH/s.

Hash Rate: (Source: Glassnode)

The summation successful hash complaint follows an arsenic crisp emergence successful mining difficulty. On Monday, Oct. 10, Bitcoin mining trouble saw its sharpest accommodation this year, expanding by 13%. Monday’s accommodation puts the existent Bitcoin mining trouble astatine 2x the levels it recorded successful July 2021.

Mining difficulty: (Source: Glassnode)

Currently lasting astatine 35 trillion, the mining trouble volition severely strain already stressed Bitcoin miners, further decreasing their revenue.

Looking astatine miner gross per Exahash, a metric utilized to estimation regular miner income shows that miners each crossed the web are getting squeezed retired of profits. Miner gross per exahash shows the estimated regular profits for miners comparative to their publication to the network’s wide hash power. It’s calculated by dividing the ratio betwixt full USD oregon BTC-denominated income by the existent web hash rate.

Data from Glassnode has shown that miner gross has been steadily declining since precocious 2021 and is expected to alteration adjacent further arsenic Bitcoin’s terms lies level astatine $20,000. Current miner gross stands astatine 4 BTC oregon astir $80,000 per day.

Bitcoin miner gross per exahash (Source: Glassnode)

With vigor prices expected to soar done the winter, miners could spot their revenues driblet adjacent further. Any volatility successful Bitcoin’s terms volition besides enactment further strain connected the mining industry.

The station Research: Bitcoin mining trouble adjusts implicit 13%, the highest since May 2021 appeared archetypal connected CryptoSlate.