Bitcoin Mining Difficulty increases 13.55% to 35.61t 📈
485 sats \ 11 comments \ @BTCMiner 10 Oct 2022 bitcoin
write
preview
related posts
152 sats \ 1 reply \ @Brunswick 10 Oct 2022
Shouldn't that say increases?
reply
12 sats \ 0 replies \ @BTCMiner OP 10 Oct 2022
Copy pasta error ... thank you!
Fixed it within the edit window!
reply
130 sats \ 0 replies \ @0322ee777777 10 Oct 2022
:( pain
reply
105 sats \ 2 replies \ @BTCMiner OP 10 Oct 2022
Stats:
Difficulty:
Here's an article that has some general info about bitcoin mining difficulty.
Network Difficulty, Share Diffiaculty and Hash Functions https://hashrateindex.com/blog/crypto-mining-network-difficulty-share-difficulty-and-hash-functions
Hashrate:
ASIC Prices:
A great tool to monitor the progress over the 2,016 block epoch is fork.lol's Difficulty Retarget chart:
And some great Dashboards, overall:
reply
0 sats \ 1 reply \ @BTCMiner OP 10 Oct 2022
And there it is folks: Bitcoin's USD hashprice has hit an all-time low of $0.0689/TH/day after today's massive difficulty adjustment🙃😶
https://data.hashrateindex.com/network-data/btc
https://twitter.com/hashrateindex/status/1579440552189505538 [Nitter]
reply
0 sats \ 0 replies \ @BTCMiner OP 10 Oct 2022
Absolutely wild.
https://twitter.com/GAMdotAI/status/1579467915698798593 [Nitter]
reply
25 sats \ 2 replies \ @faithandcredit 10 Oct 2022
Is it normal for hashrate to rise like this during what is arguably a bear market?
reply
7 sats \ 0 replies \ @BTCMiner OP 10 Oct 2022
A contributing factor is that some operators are upgrading from older less efficient ASIC models, For many the choice is either power down and liquidate to exit the business, or to upgrade to equipment that can be operated at a profit. When they do upgrade, the new devices pack a higher hashrate for the same physical space. Electricity consumption per-device will be higher but the TH/j is lower than the model being replaced.
reply
25 sats \ 0 replies \ @DeezSats 10 Oct 2022
Yes
reply
25 sats \ 0 replies \ @DeezSats 10 Oct 2022
It pushes out small miners and leads to consolidation of hash by big players with access to the money spigot, aka US corporations. This didn't really happen before and it is a new challenge to decentralization.
reply
100 sats \ 0 replies \ @BTCMiner OP 10 Oct 2022
See also another post, found here on SN, with an article on this from CoinDesk:
Bitcoin Mining Difficulty Surges to ATH, Putting Additional Squeeze on Miners #79648 https://www.coindesk.com/business/2022/10/10/bitcoin-mining-difficulty-surges-to-all-time-high-putting-additional-squeeze-on-miners [Archive]
reply