• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Bet & win BTC
Breaking News: Ecommerce Giant Amazon To Launch NFT Initiative
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Bet & win BTC
Bitcoinist.com
No Result
View All Result
Breaking News: Ecommerce Giant Amazon To Launch NFT Initiative
Advertisement

Bitcoin Hashrate Declines As Mining Difficulty Stays At ATH Levels

Hououin Kyouma by Hououin Kyouma
2 months ago
in Bitcoin, Bitcoin Mining
0
Advertisement

Data shows the Bitcoin mining hashrate has been on a decline recently as the difficulty is currently at all-time high levels.

Bitcoin Mining Hashrate Is Down Almost 7% From The Recent High

The “mining hashrate” is an indicator that measures the total amount of computing power currently connected to the Bitcoin network.

Get 30 FREE SPINS at Punt Casino - NO DEPOSIT REQUIRED! Start Playing Now.

When the value of this metric goes up, it means miners are bringing up more rigs online at the moment.

On the other hand, declines in the indicator suggest miners are disconnecting their machines from the network, likely because of a lack of profitability.

Here is a chart that shows the trend in the 7-day average Bitcoin mining hashrate over the last six months:

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

Bitcoin Mining Hashrate

The value of the metric seems to have gone down in recent days | Source: Blockchain.com

As you can see in the above graph, the Bitcoin mining hashrate hit a high just below the ATH on 13 November, but since then the metric has declined by almost 7%.

A feature on the BTC blockchain is that the block production rate (or simply the rate at which miners handle new transactions) remains almost constant.

Related Reading: Shiba Inu Partners Up With Travala To Launch Exclusive Offer

However, whenever the hashrate fluctuates, this rate also inevitably changes since miners now hash blocks faster or slower, depending on whether they have more or less computing power after the change.

Since the network doesn’t want this to happen, it changes the value of what’s called the “mining difficulty,” in order to correct the block production rate.

For example, when the hashrate goes up, miners become able to handle transactions faster, and so the blockchain ups the difficulty to slow them down back to the standard rate.

The below chart displays how the Bitcoin mining difficulty has changed recently.

Bitcoin Mining Difficulty

Looks like the metric has observed an increase recently | Source: Blockchain.com

From the graph, it’s apparent that the Bitcoin mining difficulty has reached a new all-time high as the latest adjustment lead to an increase in the indicator’s value.

Related Reading: Can MicroStrategy And Saylor’s Levered Bitcoin Bet Crash The Market? New Research Answers

The reason behind the high difficulty is the near ATH-levels of hashrate that was observed recently. However, as higher difficulty means lesser profits for individual miners involved, some of them would find mining straight up unprofitable after the increase, and hence take their machines offline.

These miners, who had already been under extreme pressure recently due to the bear market, disconnecting their rigs is what’s behind the latest mining hashrate drawdown.

BTC Price

At the time of writing, Bitcoin’s price floats around $16.5k, down 1% in the last week.

Bitcoin Price Chart

BTC has held around $16.5k in the last few days | Source: BTCUSD on TradingView
Featured image from Brian Wangenheim on Unsplash.com, charts from TradingView.com, Blockchain.com
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Hououin Kyouma

Hououin Kyouma

Loves to write, enthusiastic about cryptocurrency. Currently studying Physics at university.

Related Posts

50% of Bitcoin hashrate Controlled by Two Mining Pools

Data Shows 50% Of Bitcoin Hashrate Controlled By Two Mining Pools

5 hours ago
Institutional Bitcoin Buying Is a Positive Sign, Suggests Matrixport

Institutional Bitcoin Buying Is A Positive Sign, Suggests Matrixport

1 day ago
Bitcoin BTC

Inflation May Be In A Lull, What Does That Mean For Bitcoin?

2 days ago
Bitcoin Lightning Network POS Clover

Major Adoption News For Bitcoin: POS Giant Clover Starts Lightning Trial

2 days ago
Bitcoin

These Metrics Hint At Massive Bitcoin ‘Buying Opportunity’, Says Analyst

3 days ago
Bitcoin Whale

Bitcoin Exchange Whale Ratio Surges, What Does It Mean?

3 days ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Top Casinos

BitStarz
BitStarz
Punt Casino
Punt Casino
mBit
mBit
Metaspins
Metaspins
1xBit
1xBit
Coinplay
Coinplay
K8
K8
Vegas Casino
Vegas Casino

Sportbooks

Coinplay
Coinplay

Press Releases

  • Is Aptos (APT), Solana (SOL), or Snowfall Protocol (SNW)...

    10 hours ago
  • Hector Network launches its NFT marketplace on Fantom...

    10 hours ago
  • Fantom (FTM) launches ecosystem vault to finance dApp...

    11 hours ago
  • Esports Driving the Advancement of Cryptocurrency in Sports...

    1 day ago
  • Connecting the dots on $PAW. Is Ryoshi back?

    1 day ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Bet & win BTC

© 2022 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.