Bitcoin miners have been crushed in 2022. What seemed to be a year with enough capital to expand, rising energy prices, increased competition and a bear market caught many mining giants down.
After hibernation, bitcoin miners are back again as mining difficulty is seen to increase by 10% from 34.09 trillion to 37.59 trillion, according to data compiled by BTC.com.
After development, a leading player in the space, f2pool chirpAnd
“Bitcoin mining difficulty increased by 10.26% to ATH! In this two-week cycle, if BTC can rise above $23,000, machines more efficient than 40 watt/ton can run with electricity earnings of $0.08/kW per hour.”
- The figure, which determines how difficult a Bitcoin block will be to mine, comes amid an upward shift in the crypto-asset’s price action.
- Bitcoin is currently trading at $21,175, and has managed to wipe out the losses caused by the collapse of Sam Bankman-Fried’s crypto empire two months ago. The next difficulty change is expected in a couple of weeks, which could see a slight decrease of 0.02%, at least for now.
- Meanwhile, just two weeks into the year, Bitcoin mining hashrate posted two new highs even after bankrupt 9000 ASIC miner Core Scientific shut down in December.
- This trend can be tolerated Pretending Hash that moves from weak hands to strong hands. At the time of writing, the Bitcoin hash rate is hovering around 271.86 EH/s.
- In terms of distribution of mining pools, Foundry USA has the largest share with 35.5%, followed by AntPool with 20.9%, Binance Pool with 12.3% and f2pool with 10.4% among others.
Post-Bitcoin Mining Difficulty increased by 10% to new ATH as Return of Miners debuted on CryptoPotato.