Bitcoin mining difficulty continues to rise, reaching a new all-time high. This article examines the implications of this rise for miners and the price of Bitcoin.
Increase in Mining Difficulty
Bitcoin mining difficulty has reached 127.6 trillion, which is a new record. At this point, at block 908,544, the difficulty has increased by 9.12% over the past 30 days and 7.14% over the past 90 days. The next difficulty adjustment, scheduled for August 9, is expected to decrease by 0.03%.
Impact on Miners' Profitability
Despite the rise in difficulty, miners' earnings have remained high. According to YCHARTS data, profitability was $58.43 million per exahash per day, indicating high mining efficiency under current conditions.
Consequences for BTC Price
The increasing mining difficulty may lead to reduced Bitcoin emissions, which, in the context of rising demand, could trigger a price rally for BTC. At the time of publication, Bitcoin was trading at $114,348, with a slight increase of 0.34% over the past 24 hours.
Bitcoin mining difficulty has reached record levels, which may increase profitability for miners and influence BTC price dynamics in the future.
