Bitcoin mining difficulty continues to rise, reaching a new record of 134.7 trillion. This event sparks discussions among cryptocurrency market participants.
Record Bitcoin Mining Difficulty
On Friday, Bitcoin mining difficulty reached a new all-time high of 134.7 trillion, marking a historic milestone. This figure follows a previous record set in August when difficulty levels remained high throughout the month.
Impact on Large and Small Miners
The increase in mining difficulty has created tighter conditions for large mining firms, which operate on narrow profit margins. This also raises concerns over the centralization of Bitcoin mining, as mining costs become increasingly expensive, potentially leading to domination by large corporations and mining pools.
Prospects for Small Miners
Despite large players dominating the market, small and solo miners still occasionally succeed in mining blocks. In July and August, three solo miners successfully added blocks to the Bitcoin ledger, claiming rewards of over $373,000.
The rising difficulty of Bitcoin mining raises questions about the accessibility and sustainability for individual miners, yet small successes show that there are still chances for achievement.
