Warning: unlink(/tmp/jnewslibrary-E6EnOq.tmp): No such file or directory in /home/customer/www/coinparative.com/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 142
Bitcoin Mining Difficulty Hits ATH as 'Tectonic Shifts' Bring 'New Opportunities' | Coinparative
Coinparative

  • News
    • Crypto News
    • Blockchain News
    • Altcoin News
    • Press Release
    • NFT News
    • Metaverse
    • Web3.0 News
    • Trending
  • Insights
    • Explainer
    • Research
  • Guides
  • Market
    • Market analysis
    • Market News
    • Reviews
    • Price Index
  • Videos 🚀
No Result
View All Result
  • About Us
  • Contact
  • jeet-detector-bot
    JDB(JDB)
    $0.00-0.61%
  • bitcoin
    Bitcoin(BTC)
    $0.004.40%
  • ethereum
    Ethereum(ETH)
    $0.007.28%
  • usdex-stablecoin
    USDEX(USDEX)
    $0.00-0.53%
  • tether
    Tether(USDT)
    $0.000.050%
  • binancecoin
    BNB(BNB)
    $0.007.39%
  • usd-coin
    USD Coin(USDC)
    $0.00-0.04%
  • ripple
    XRP(XRP)
    $0.004.05%
  • binance-usd
    Binance USD(BUSD)
    $0.000.230%
  • cardano
    Cardano(ADA)
    $0.009.45%
  • dogecoin
    Dogecoin(DOGE)
    $0.005.74%
  • matic-network
    Polygon(MATIC)
    $0.0016.27%
  • okb
    OKB(OKB)
    $0.0014.15%
  • solana
    Solana(SOL)
    $0.0012.69%
  • staked-ether
    Lido Staked Ether(STETH)
    $0.007.35%
  • polkadot
    Polkadot(DOT)
    $0.0012.11%
  • shiba-inu
    Shiba Inu(SHIB)
    $0.0013.28%
  • litecoin
    Litecoin(LTC)
    $0.006.66%
  • avalanche-2
    Avalanche(AVAX)
    $0.0017.96%
  • tron
    TRON(TRX)
    $0.005.77%
View All
Coinparative
Home News

Bitcoin Mining Difficulty Hits ATH as ‘Tectonic Shifts’ Bring ‘New Opportunities’

April 2, 2022
in News
245 7
A A
0
Bitcoin Mining Difficulty Hits ATH as ‘Tectonic Shifts’ Bring ‘New Opportunities’
Share on FacebookShare on Twitter

On Thursday (UTC time), Bitcoin (BTC) mining difficulty hit another all-time high, yet again cutting into the decreasing profit margins of miners.

The Bitcoin mining difficulty, or the measure of how hard it is to compete for mining rewards, increased 4.13%, reaching 28.59 T, compared to the previous ATH of 27.97 T seen in mid-February. 

Though the percentage is far from being the highest this year, it was sufficient to lead to the new high as this rise in difficulty follows two consecutive and relatively small drops that had pushed the difficulty a bit lower from the previous ATH.

However, hashrate, or the computational power of the network, has seen a minor decrease since the previous difficulty adjustment two weeks ago. Between then and March 29, the 7-day moving average hashrate is almost unchanged, per BitInfoCharts.com data.

In the same time period, Bitcoin mining profitability went up just over 14%, as the price of BTC was rising as well, going from USD 40,922 on March 17 to USD 47,885 on March 29.

The mining difficulty of Bitcoin is adjusted around every two weeks (or more precisely, every 2016 blocks) to maintain the normal 10-minute block time. The 7-day moving average block time on March 29 was 9.54 minutes.

According to ByteTree data, in the past week, miners have held more of their newly generated BTC, compared to what they’ve spent, while in the weeks prior, it was the opposite.

At 14:50 UTC, BTC was trading at USD 47,151. It was down 1% in a day and up 11% in a week.

Meanwhile, the latest analytics firm Coin Metrics’ report noted that mining is “an economically significant industry,” and that in 2021, total Bitcoin miner revenue was around USD 17bn. This year, in the wake of China’s crackdown on BTC and crypto mining, “North America-based miners emerged as the new global industry leaders,” they said, adding:

“2022 is shaping up to be another important year.”

This can be seen in several factors, including:

  • Bitcoin’s hashrate was at an ATH on March 29 of 200 EH/s, when measured on a 30-day moving average;
  • more miners have been incentivized to come online recently because of the positive economics at today’s BTC price;
  • Bitcoin miners have so far this year recorded over USD 3bn in revenue, the vast majority of which has come from block rewards.

The analysts concluded that,

“Tectonic shifts in the geographic distribution of Bitcoin mining [in one year] have introduced new opportunities. An increasingly institutional and maturing mining industry is tapping into the depth of US capital markets while synergies between existing energy infrastructure and Bitcoin mining are beginning to surface.”

____


– Analysts Keep Reduced Hashrate Estimate for Bitcoin Despite Growth Exceeding Model
– EU Institutions to Continue MiCA Discussions Without Bitcoin Mining Ban Proposal

– Bitcoin & Crypto Mining in 2022: New Locations, Technologies, and Bigger Players

– Ripple’s Larsen Teams Up With Greenpeace & Co to Spend USD 5M on Recycling Bitcoin Mining FUD
– Russia Looks to Bolster its Bitcoin & Crypto Mining Industry Amid War in Ukraine
___
(Updated on March 31 at 04:46 UTC with the latest mining difficulty data.)

Source: Crypto News

Share196Tweet123Share34Pin44ShareSend

Related Articles

While Canto Price Explodes, These 3 Altcoins Might 10x
News

While Canto Price Explodes, These 3 Altcoins Might 10x

February 2, 2023
1.4k
How Crypto Advocacy Must Change Post-FTX Collapse
News

How Crypto Advocacy Must Change Post-FTX Collapse

February 2, 2023
1.4k
FIO Protocol Launches NFT Domains Wrapped on Polygon
News

FIO Protocol Launches NFT Domains Wrapped on Polygon

February 2, 2023
1.4k
Shiba Inu Price Prediction as SHIB Gets Accepted on New Virtual Prepaid Card – Time to Buy?
News

Shiba Inu Price Prediction as SHIB Gets Accepted on New Virtual Prepaid Card – Time to Buy?

February 2, 2023
1.4k
Chinese Communist Party officials issue KPIs for e-CNY transactions in Suzhou
News

Chinese Communist Party officials issue KPIs for e-CNY transactions in Suzhou

February 2, 2023
1.4k
Charlie Munger calls on US to join China in banning crypto
Blockchain News

Charlie Munger calls on US to join China in banning crypto

February 2, 2023
1.4k
Load More

Discussion about this post

Coinparative

2022 © All Rights Reserved.

Coinparative specializes in the digital News and research on cryptocurrency, Digital Assets and Blockchain

  • Advertise
  • Privacy Policy
  • Terms
  • About Us
  • Contact

Follow Us

No Result
View All Result
  • News
    • Crypto News
    • Blockchain News
    • Altcoin News
    • Press Release
    • NFT News
    • Metaverse
    • Web3.0 News
    • Trending
  • Insights
    • Explainer
    • Research
  • Guides
  • Market
    • Market analysis
    • Market News
    • Reviews
    • Price Index
  • Videos 🚀

2022 © All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
DON’T MISS OUT!
Subscribe To Newsletter
Be the first to get latest updates and exclusive content straight to your email inbox.
Stay Updated
Give it a try, you can unsubscribe anytime.
close-link
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.

Warning: unlink(/tmp/jnewsfirstload-t695ur.tmp): No such file or directory in /home/customer/www/coinparative.com/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 142