This post was originally published on Coinspeaker
Bitcoin’s mining difficulty has reached an unprecedented level of 95.67 terahashes (T), reflecting a 4% increase in just 24 hours.
Key Notes The increase in Bitcoin mining difficulty places additional pressure on miners to maintain profitability, leading to higher operational costs.Although Bitcoin mining revenue has remained below the 365-simple moving average (SMA) since the halving, there are indications that a rally could be on the horizon.The total dollar mining revenue has exceeded $35 million, suggesting a link between rising miner earnings and potential Bitcoin bull runs.
Despite BTC price BTC $66 000 24h volatility: 2.0% Market cap: $1.30 T Vol. 24h: $33.34 B facing rejection at $69,000 levels and retracing 5%, the Bitcoin mining difficulty has hit an all-time high of 95.67 terahashes (T), surging 4% in the last 24 hours. So far this year, the Bitcoin blockchain has witnessed 22 difficulty adjustments, with 13 of them being positive.
In difficulty adjustment this year, the Bitcoin hashrate surged 27% surging from 72T to 92T. Another good thing is also that the surge in Bitcoin mining difficulty comes along with a record BTC hashrate. As
— Read the rest of this post, which was originally published on Coinspeaker.