Bitcoin Mining Difficulty Set for a Sharp Rise While Profitability Drops
Bitcoin (BTC) mining difficultly is set to see a significant increase in less than a day, seeing it move a step closer to its May all-time high (ATH) at a time when competition among miners is growing while profitability is decreasing.
It is currently estimated by the mining pool BTC.com that Bitcoin mining difficulty, or the measure of how hard it is to compete for mining rewards, will rise 6.49% on Saturday. This would be the fourth-highest increase since the ATH.
Additionally, it would bring the difficulty up to the 23.78 T level – closer to the mid-May ATH of 25.05 T.
This rise follows a decrease that was relatively small, but significant, given that it broke the longest gain streak seen since 2018.
Meanwhile, hashrate, or the computational
Read more on cryptonews.com
