Bitcoin hashrate or Bitcoin mining difficulty dropped by a record 28%. Bitcoin mining, which has been the focus of discussions in recent weeks, has attracted attention, especially after the news of the ban from China, the power cut of many mining facilities and the decrease in mining difficulty after developments such as the miners having to turn off their devices.
The harder the hashrate to produce 1 Bitcoin, the more electricity and device power needed to be used. However, the lower the Bitcoin hash rate, the less costly and faster it is possible to generate 1 Bitcoin – across the network.
Expected to increase again
With miners facing 28% less difficulty to produce 1 Bitcoin, revenues are expected to increase substantially in the face of this situation. It is impossible to predict in advance how much the expected increase will be on average due to the hashrate decrease in the revenue of Bitcoin miners.
However, according to experts, with a 28% decrease in Bitcoin hashrate, miners’ income will increase significantly, and some miners who are mining half-time due to the hashrate decrease in the coming weeks will activate their devices again.
Stating that the mining difficulty will not always remain at this level and that the difficulty may increase in the coming weeks, experts state that the hashrate value is very important for Bitcoin miners, but it is not the only indicator.
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