Bitcoin mining difficulty jumped 13.55% from the last adjustment two weeks ago, the biggest change since May 2021.
According to btc.com, after the increase in mining difficulty, it now takes 35.6 trillion hashes to mine one bitcoin (BTC). Bitcoin’s current hash rate is 257M Th/s, which is significantly higher than last year’s 140M TH/s.
The ever-increasing difficulty of BTC mining paints a grim picture for miners who are already feeling the pressure of rising electricity costs.
Recently, Argo Blockchain announced that rising operating costs, falling prices for crypto assets, and increasing mining difficulty have reduced revenue and bottom line. To replenish working capital, the company will sell 87 million shares to an unnamed investor, raising $27 million to hold out until the end of next year.
Investment companies see a new market for direct investment in mining cryptocurrencies in a difficult situation for mining. Grayscale announced the launch of the Grayscale Digital Infrastructure Opportunities (GDIO) fund, in which it is going to raise investments to purchase ASIC miners for the management company of the Bitcoin miner pool Foundry Digital.
Recall that after the previous recalculation of the complexity of bitcoin mining in September, the indicator increased by 3.45%. At the same time, the complexity at that time reached 32.05 trillion hashes. At that time, this was the highest figure in the history of the blockchain. The reason for the increase was that the miners in Texas turned on the equipment again after the end of the hot season, which led to an increase in the hashrate.
Source: Bits
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