Bitcoin (BTC) mining difficulty is set to reach yet another all-time high (ATH), less than a month after the previous one, reducing the profit margins of miners. BTC Mining Difficulty Is Going To Increase By 5.57% According to data from mining pool BTC.com, Bitcoin's mining difficulty is a measure of how difficult it is to compete for mining rewards and today it is about to increase by 5.57%, reaching 29.80T. This is also the most significant increase since January of this year. The previous ATH was seen on the last day of March, or two difficult adjustments ago, when it reached 28.59T. This was followed by a decrease of less than 1%. Meanwhile, Bitcoin's hashrate, or the computing power of the network, is also on the rise. According to data from BitInfoCharts.com, from the previous difficulty adjustment two weeks ago, or more precisely from April 14 to April 26, the 7-day moving average hashrate has increased by almost 9%. In fact, it reached its own ATH of 219.75E, compared to the previous high of 215.92E recorded in February of this year. In the same time period between the two adjustments, Bitcoin's mining profitability fell by around 2%, while BTC corrected down by nearly 4% in two weeks. It dropped from about $ 41,500 seen on April 14 to about $ 39,000 today. 7-day moving average. Source. Bitinfocharts.com Bitcoin mining difficulty is adjusted approximately every two weeks (or more precisely, every 2016 blocks), to maintain the normal block time of 10 minutes. The 7-day moving average freeze time on April 26 was 9.23 minutes.
According to data from ByteTree, miners have held more newly generated BTC in the last week, 337 of which, than they spent. The situation changes when the 5 and 12 week periods are observed. Source: terminal.bytetree.com
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