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Bitcoin mining difficulty has increased. What is happening in the network
On May 29, Bitcoin mining difficulty increased by 1.72%. One of the key indicators in cryptocurrency mining rose to its highest level since early April.
As a result of the latest adjustment, mining difficulty increased to 138.96 T (trillion), according to Cloverpool. This means miners need to calculate about 139 trillion hash functions on average to mine the new 3.125 BTC — roughly $229,000 at the current price of about $73,600.
The next mining difficulty adjustment will take place in about two weeks. Whether it increases or decreases will mainly depend on miner activity, or the hashrate. When this indicator rises, difficulty also increases, and vice versa.
The global hashrate, or the combined computing power of all devices actively mining Bitcoin, remains relatively stable at the end of May. Over the past 24 hours, it averaged 1.03 Eh/s (exahashes per second). Over the week, it averaged 1.02 Eh/s.
At the moment, the largest contribution to the hashrate comes from the U.S.-based pool Foundry USA, with a share of 28.77%. It is followed by AntPool (20.78%), F2Pool (12.33%), SpiderPool (9.59%), and ViaBTC, at around 8%.
Shares of mining pools in the global hashrate. Source: Clover Pool
The “hashprice” is around $34.1 per 1 Ph/s. This indicator reflects miners’ daily revenue per unit of hashrate and is expressed in U.S. dollars per petahash per second per day ($/PH/s/day). It is an average value that does not account for costs that vary from region to region, but the metric still serves as an important benchmark. Over the past month, the maximum was around $39.
See also: "Miner TeraWulf to Build a 1 GW Data Center in Kentucky"
