Glassnode: Bitcoin Mining Difficulty Hits Record High

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Bitcoin mining difficulty increased by 0.51%, breaking the previous record set on October 23.

Analytical company Glassnode publisheda report from which it follows that the cost of the first cryptocurrency is now more than 76% below the historical maximum recorded on November 10, 2021. The hash price of Bitcoin miners has fallen to an all-time low of $58,000 per exahash per day. As the price of Bitcoin has dropped significantly, analysts say, this has put the mining industry under serious threat.

After the company’s specialists published the information, the hash price fell even lower:

“After the appearance last weeknews of the FTX collapse, Bitcoin miners distributed an additional 8,250 BTC to shore up their balances. This leaves about 78,000 Bitcoin in miners' wallets and wipes out all balance growth in 2022."

According to Glassnode statistics, leadingThe mining pool is now Foundry USA with approximately 71.76 EH/s, which is 27.36% of the global hashrate. According to analysts, the next difficulty adjustment should take place on December 4, and the intervals between blocks after it will be reduced to 9 minutes 26 seconds.

Formerly a manufacturer of mining equipmentCanaan reported a 90% drop in net profit, which, however, did not stop it from continuing to develop its plans to expand the business and hire new employees.