Bitcoin network difficulty decreased
In the last automatic adjustment of the difficulty of the Bitcoin network, which took place on the morning of Tuesday, December 13, the difficulty of mining this network decreased by 3.59%. Many American miners were forced to stop their mining operations during the New Year holidays due to storms and bad weather conditions. These miners are facing a lack of liquidity due to the low price of Bitcoin and rising operating costs – most importantly energy costs.
According to Valx and quoted by forkast, the last bi-weekly automatic adjustment of the network was done in block number 770112. The recent decrease in the difficulty of the Bitcoin network took place while the previous time on December 19, the network difficulty had increased by 3.27%.
Bitcoin network difficulty is now nearly 40% higher than at the beginning of 2022. The seven-day average hash rate of the network on Monday was 256.7 exahes/second.
According to the BitInfoCharts website, the profitability of Bitcoin mining in the last twenty-four hours is $0.058 per teraash per second. This amount has a significant decrease compared to the profitability of $0.233 per draft last year.
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