March 29, 2024

Bitcoin mining difficulty dropped by 16% and hash rate by 23%

Bitcoin mining difficulty dropped by 16% and hash rate by 23%

Against the backdrop of a market decline over the past two weeks, key bitcoin mining indicators also show some of the largest declines in history.

According to the BTC.com pool, after the nightly adjustment, the mining difficulty decreased by 16.09% from a record 16.55 trillion to 13.91 trillion.This indicator reflects the level of tasks offered by the blockchain for the closure of new blocks, and its fall means the departure of a significant part of miners. The reason for the shutdown of the equipment was the decline in the BTC rate and the profitability of its production. 

Bitcoin mining difficulty dropped by 16% and hash rate by 23%

Over the same period of time , the levelhashrate fell by 23.3% from 124.3 EH/s to 95.3 EH/s, and the decline has been reversed since the high on March 1 A decrease in this indicator is also confirmed by the outflow of computing power from the network and an increase in the average time to close blocks.

Bitcoin mining difficulty dropped by 16% and hash rate by 23%

However, due to the ease of mining in the next cycle and the departure of competitors, the remaining miners will be able toget more coins, and against the backdrop of the recent increase in the BTC rate to $6.6 thousand.Even the classic Antmainin S9 models will start to make a profit again.The last models of the equipment, even during the collapse period, continued to operate in the profitability zone due to high efficiency.

Despite the crisis and recession, leading manufacturers of specialized chips are looking to offer more progressive options ahead of the Bitcoin halving.

text: Ivan Malichenko, photo: kapital, graphics: BTC.com, Blockchain.com