The complexity of BTC mining has increased by 13.55% in the past two weeks
This is the biggest jump in a year and a half
At the same time, pressure on miners is increasing, forcing smaller companies to withdraw from the market
The complexity of bitcoin mining has increased by 13.55% to 35.6 trillion hashes since the last adjustment. This is the biggest jump since last May. But what do these figures mean for miners?
Earlier we dealt in detail with what hash rate and mining complexity are. We also note that total processing power reached a new peak at the beginning of the month, bringing the next halving date much closer.
Now we are talking about new records. Bitcoin mining difficulty has increased by 13.55% since the last adjustment about a fortnight ago.
At the time of writing, the average was 31.685 trillion hashes and the maximum was 35.610 trillion hashes. The next adjustment is expected in 13 days.
In practice, this means that the pressure on small miners will increase. The BTC exchange rate remains as low as $20k, with the costs of mining the cryptocurrency rising, hence the income of “farmers” falling.
And while some miners are still hanging on, others already face the real threat of bankruptcy. Japan-based Argo Blockchain, for example, was forced to raise $27 million last week to ease liquidity pressures.