After Bitcoin’s mining difficulty jumped to the highest value ever at 26.64 trillion, the overall hashrate slumped a hair due to the rise in difficulty and lower bitcoin price. This weekend, Bitcoin’s hashrate is coasting along at 189 exahash per second (EH/s), after dropping to a low of 167 EH/s three days ago. The lower price and difficulty rise has put a squeeze on bitcoin mining profits.
Mining Difficulty Makes Block Rewards Harder to Find, Bitcoin’s Lower Price Makes It Less Profitable for Miners
Bitcoin’s hashrate remains high after the network saw the mining difficulty reach an all-time high of 26.64 trillion on January 20, 2022. That day, the network difficulty adjustment algorithm (DAA) increased 9.32% and the next DAA epoch is set to change in 11 days.
The last change makes it a lot harder for miners to find a bitcoin (BTC) block subsidy and more difficult than ever before during the last 13 years. Another obstacle bitcoin miners faced this past week is the fact tha
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