Bitcoin Miners Anticipate Relief: Upcoming Difficulty Reduction Projected After August’s Challenges

Bitcoin Miners Anticipate Relief: Upcoming Difficulty Reduction Projected After August’s Challenges

While Bitcoin experienced two difficulty adjustments upward last month, the next one, expected around September 6, 2023, is estimated to be a reduction. Currently, the network’s hashrate is about 367.58 exahash per second (EH/s), with an average of 380.90 EH/s over the past ten days.
After a Rocky Month, Bitcoin Miners Poised for Potential Difficulty Decrease
Bitcoin miners have faced challenges recently because the price of BTC dropped last month and the difficulty increased twice, totaling a 6.29% rise. The adjustment on Aug. 22 set the difficulty to a record 55.62 trillion. With five days remaining until the next adjustment, projections suggest miners might see a decrease in the upcoming period. Data from two independent sources indicates a potential decline of 4.42% to 4.9%.
Statistics from bitinfocharts.com show that since August 22, block times have been longer than the typical 10-minute average. During this period, the average block time briefly fell below the 10-minute mark o

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