February 20, 2024

Bitcoin mining difficulty drops 7% over the last recount

Bitcoin's mining difficulty fell by 7% in the last recalculation, the largest decline in 2019.InThe last time a similar drop occurred in December 2018.

As cryptocurrency tweetedentrepreneur Alistair Milne, after the next recount of complexity, which occurs every 2016 blocks, the Bitcoin mining difficulty decreased by 7%. The complexity recalculation mechanism acts as a stabilizer of the Bitcoin network, ensuring its security, even when the price or network activity is significantly reduced.


After last year’s minimum mining difficultyBitcoin at 5,646,403,853,553 in December 2018, when cryptocurrency was trading at $ 3,100, the complexity gradually increased during 2019. As Milne noted, apparently, now "the cost of mining on average fluctuates around $ 8,000."

At the same time, the Bitcoin hash on Monday resumed growth - this indicator once again rose above 100 exheshes per second.


Mining companies are generally optimisticregarding the future profitability of the sector. Recently, Canaan Creative, the world's second-largest mining device maker, said it received about $ 13 million in net profit for the third quarter of 2019 due to rising bitcoin prices.

Canaan officially filed for an IPO in the US inlast month, which was the company's third public offering after two previous applications filed in China and Hong Kong were rejected. Bitmain, meanwhile, continues to build capacity. Last month, the company launched a 50-megawatt mining center in Texas.