According to CloverPool, before the last adjustment, blocks were created faster than the average, that is, every 9 minutes 27 seconds. The seven-day rolling average of Bitcoin’s hashrate, which measures the total computing power of miners, surpassed 750 EH/s for the first time, reaching 769.8 EH/s.
Average daily miner revenue has fallen from a peak of $72.4 million on the day of the halving to a range of $25-35 million last week, prompting some cryptocurrency mining companies to exit the market.
Note that the difficulty of Bitcoin mining does not have clear units of measurement and is a relative value that determines how difficult it is to mine a new block. Mining difficulty is adjusted automatically every 2,016 blocks – approximately once every two weeks.
The higher the difficulty of Bitcoin mining, the more computing power and energy miners need to find the correct hash for the next block. The growth of this indicator indicates that the activity of miners is increasing, and its decrease shows the opposite trend.
Earlier, analysts from the international educational foundation Exponential Science said that a ban on Bitcoin mining could cause significant harm to the global economy and the environment.
Source: Bits
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