Bitcoin mining difficulty decreased by 15.95% for the last recount

Due to the fall in the price of the first cryptocurrency during the last recalculation, the difficulty of mining Bitcoin decreased by 15.95%.The last time a decrease of more than 15% occurred in December 2018.

A drop in mining complexity signals thatthat some of the miners turned off equipment for mining bitcoin, since lowering the price of the first cryptocurrency made creating blocks less profitable. However, a drop can be beneficial for those who choose to stay in the game, as less competition means that the remaining miners will receive more profit.

Bitcoin mining difficulty changed on March 26that approximately 6:00 Moscow time, dropping to 13,912,524,048,946 with a hashrate of 99 EH/s. The last time the difficulty adjustment occurred was a few days before the sharp decline in the traditional and cryptocurrency markets, when all the largest crypto assets lost a lot of value.

The fall in the price of Bitcoin eliminated all gainsnetwork computing power over the past three months, pushing it to levels last seen around December 20. The situation particularly affected miners who were running older hardware, such as the Bitmain AntMiner S9 and other similar models.

The current difficulty reduction is the second largestvalue in the entire history of the first cryptocurrency. In December 2018, Bitcoin mining difficulty collapsed by 15.13% in one recount. Previously, a similar drop was observed only in October 2011.

Bitcoin mining difficulty level is changingapproximately every two weeks - every 2,016 blocks. When a significant amount of computing power is withdrawn from the network within a 14-day cycle, this increases the time it takes miners to produce 2,016 blocks.

Thus, in the next recount, the complexitymining is declining. Similarly, if there is a serious increase in computing power per cycle, it reduces the average block creation interval, and the network increases the complexity of mining in the next recount.

Due to the disconnection of some miners, a hashratethe network over the past two weeks fell to 99 Eh / s, while in the first half of March this figure reached 121.6 Eh / s. This led to an increase in the average block extraction interval to almost 12 minutes, which subsequently extended the complexity adjustment period to 17 days.

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