Recent changes in Bitcoin mining difficulty and market conditions affect miners' revenue and companies' strategies in this field. Here are the key facts.
Changes in Bitcoin Mining Difficulty
Bitcoin mining difficulty has decreased after reaching an all-time high at the end of May. On June 15th, the network experienced a minor downward adjustment, now sitting at approximately 126.4 trillion, according to data from CryptoQuant.
Impact of Halving on Miners' Revenue
The April 2024 halving cut miner rewards in half, now amounting to 3.125 BTC per block. This means miners earn half the Bitcoin for the same computational effort. Rising electricity and equipment costs are additionally straining many market participants.
Strategies of Major Mining Companies
Some large companies like Marathon and CleanSpark continue to ramp up production despite the industry challenges. Marathon increased its output by 35% in May, not selling any newly mined Bitcoin. CleanSpark also reported growth linked to investments in efficient hardware.
The current changes in Bitcoin mining difficulty and the responses from major companies illustrate the adaptability of the sector despite challenges. It will be interesting to see how the strategies of major players evolve in the future.
