Bitcoin Mining Difficulty Records Biggest Drop of 2022.
According to data provided by BTC.com, Bitcoin’s mining difficulty has plunged by 7.32 %, which is the biggest negative adjustment of the year. In fact, the difficulty of mining recorded the most dramatic drop since the summer of 2021. Back then, the industry was reeling from China’s blanket ban on cryptocurrency mining.
Last month, Bitcoin’s mining difficulty peaked at an all-time high of 35.6 trillion. However, it has declined sharply from that peak now that miners are switching off their machines en mass amid a brutal bear market. Due to the double-whammy of declining crypto prices and the advent of more efficient mining machines, many miners are no longer capable of turning a profit.
Source
t.me/Mining_Crypto_Miner
