A life-changing window of opportunity: It is now officially 5% easier to mine Bitcoin.
to ensure the legitimacy of all transactions using raw computing power. The reduced difficulty allows Bitcoin miners to confirm transactions using lower resources, enabling smaller miners a fighting chance to earn the mining rewards.reveals that Bitcoin continues to operate as the most resilient and immutable blockchain network. While the difficulty adjustment is directly proportional to the hashing power of miners, the total hash rate recovered 3.2% along similar timelines, as shown below.
At its peak, the Bitcoin hash rate reached an all-time high of 231.428 exahash per second when BTC prices fell to $25,000 last month in June — raising momentary concerns around extensive power usage. Ever since China banned all crypto trading and mining operations in June 2021, the United States picked up slack in becoming the highest contributor to the global Bitcoin hash rate. However, Chinese miners resumed operations in September 2021. According to Statista
, the US represents 37.84% of the global hash rate, followed by China at 21.11% and Kazakhstan at 13.22%.to procure a piece of more powerful and efficient mining equipment. That being said, miners see falling GPU prices as a means to offset their operational costs amid an ongoing bear market.Easing up concerns related to exorbitant power usage, a report released by the Bitcoin Mining Council uncovered that nearly 60% of the electricity used for BTC mining comes from sustainable sources.
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