Bitcoin Mining Difficulty Spikes as Profitability Drops for Mining Companies
Bitcoin is becoming harder to mine. The mining difficulty for the world’s biggest cryptocurrency’s jumped by 9.26% over the last two weeks, according to data from BTC.com. Analysis by the website shows that the network’s mining difficulty is the highest that it has been since January, hitting 30.97 trillion.
Bitcoin mining is the process of using powerful computers to verify transactions on the blockchain. Mining companies, which are usually large operations that utilize server farms and use a lot of energy, are rewarded with newly minted Bitcoin. Last month, miners in Texas suspended operations to help the energy grid and conserve energy during a heatwave—a move that likely made Bitcoin easier to mine. Bitcoin at the time of writing was trading for $20,205, according to CoinGecko data.
Source
t.me/Mining_Crypto_Miner
