ruxus – The complexity of bitcoin mining fell by 4.3%

On May 25, as a result of another recalculation, the complexity of mining the first cryptocurrency decreased by 4.33% to 29.9 T. The reduction was the maximum since July 2021.

Data: BTC.com.

Medium hashrate for the approximately two-week period from the previous difficulty correction was 214 EH / s, also rolling back 4.3% of the maximum reached.

According to Glassnode, the smoothed 7-day moving average of the first cryptocurrency network’s computing power fell to 205.9 EH / s from a record high of 208.5 EH / s on May 5.

Data: Glassnode.

According to Arcane Research analyst Jaran Mellerud, mining profitability continues to fall sharply.

In November 2021, Bitmain’s Antminer S19 miners, consuming 1 MWh, brought the owner $ 500. At the moment, this figure has dropped to $ 146. S9 series devices with a corresponding figure of $ 40 have approached the break-even point.

In April, the company’s experts noted pressure on mining profitability due to lower bitcoin prices and hashrate growth.

Recall the complexity record collapsed in July 2021 amid a ban on cryptocurrency mining in China.

In December, experts suggested that China generates up to 20% of the hashrate bitcoin, contrary to the view of the cessation of miners in the country.

Experts from the Center for Alternative Finance at Cambridge University confirmed this opinion – China remains second by share in the computing power of the digital gold network.

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