Bitcoin Mining Difficulty Reaches To All-Time High

Chinese Bitcoin Miners

As of late, the things have continued to heat up in the world of Bitcoin mining. It is expected that the mining difficult will continue to go up as the hash rate continued to rise. The difficulty gets adjusted once again and reaches to 7.43% this morning. Since the creation of bitcoin, this adjustment has reached a new all-time high.

There are lots of people who wonder that who is bringing the additional BTC bitcoin mining hardware online nowadays. The most probable choice will be hardware manufacturers, but that is not necessary. It is very tough to determine where the hash rate is pointing at after considering how the correlation between the mining pools has not changed overnight.

The two largest pools are Antpool and F2Pool that follows by the BitFury and ViaBTC.

When speaking about the ViaBTC, it is possible that they get some new mining hardware. As of late, the support for Bitcoin unlimited seems to grow. It would make sense to see them rising their hash power as the ViaBTC is the largest pool that supports BU. Presently, the ViaBTC sit at 10.7% of the network hash power as compared to 8.9% about four years ago.

Another leg up for the mining difficulty

When it comes to mining pools, it is possible that one or two miners switch their allegiances. Antpool gone up from 15% to 19.3% in the span of a few days and gained some hash power. Although, it is common that F2pool dips slightly. The BTCC has the biggest loss whose hash power nearly cuts in half.

Mining becoming even less profitable for smaller operations with the difficulty of bitcoin mining is increasing. It looks like the mining difficult is due to the increase in SPV mining. The network is getting an influx of new hash power at an accelerated pace by buying hardware that can only mine SHA-256 and can’t perform any other work.

Bitcoin Advice

All posts published by the Bitcoin Advice Editorial Team combined. Primary objective is to provide quality content to our readers.

You may also like...

Leave a Reply

Your email address will not be published. Required fields are marked *

Herro