The difficulty of mining a bitcoin block fell by 5% yesterday as miners pull their machines from the network due to heatwaves across the U.S. egreechee reports
"The difficulty was reduced as American miners turned off their machines for significant periods over the past two weeks as electricity prices soared due to a heatwave," said Jason Mellerud, senior researcher at Arcane Research.
It's the third consecutive decrease in mining difficulty – the first time this has happened since four straight declines one year ago as Chinese miners packed up their rigs thanks to that country's ban on bitcoin mining. "The initial drop in the hashrate at the middle of June was likely caused by the plummeting BTC price, Mellerud continued."But the second drop at the beginning of July was likely caused by miners powering down in response to high electricity prices."When demand increases over a certain threshold, some miners can bring in more revenue by selling their contracted power to the grid as opposed to using it to mine bitcoin.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Bitcoin's Mining Difficulty Slides 5% Dropping to Levels Not Seen Since March – Mining Bitcoin NewsAt block height 745,920, Bitcoin’s mining difficulty dropped by 5.01%, outpacing the last two epoch changes.
Leer más »
Masked Men Rob Large Crypto Mining Farm Near Moscow – Mining Bitcoin NewsArmed robbers have plundered a large crypto mining facility not far from the Russian capital, local media reported.
Leer más »
Bitcoin mining stock report: Thursday, June 21Here's how crypto mining companies performed on Thursday, June 21.
Leer más »
Bitcoin mining stock report: Wednesday, July 20Here's how crypto mining companies performed on Wednesday, July 20.
Leer más »
A Look into Bitcoin Mining Interest Expenses and Indirect CostsIn this piece, we take a look at how mining companies’ financing and operational expansion have affected their overall bitcoin costs.
Leer más »