Bitcoin mining is one of the toughest business areas in the world. Here, the BTC miners not only speculate on the Bitcoin course, but have to ensure a perfect combination of the factors location, infrastructure and hardware. But the competition must not be ignored here either. Because with the increase in the hashrate, it becomes more and more difficult and therefore more expensive to find a Bitcoin block.
Bitcoin Difficulty reaches new all-time high
The Bitcoin network is making history again. This time it is about the current difficulty adjustment. After an upward adjustment of 3.6%, this has reached the value of 17.56T. This is a new all-time high. The difficulty of finding a Bitcoin block has never been so high.
Many BTC miners are facing difficult times
According to Thomas Heller, chief operating officer of bitcoin mining company HASHR8, the combined increase in both hashrate and difficulty could cause problems for less experienced miners.
“If the difficulties and hashrate continue to increase, the old generation machines will struggle to keep mining going. The S9 is the most commonly used machine still in mining, and is still profitable with a power consumption of $ 0.03 / kWh currently available in China. However, after October, when the rainy season is over and prices to run the machines are at $ 0.05 / kWh +, it is likely that the S9 will no longer be profitable in this price range.”