Bitcoin Mining Difficulty Hits a New High

The difficulty of mining BTC has increased by 2.23%, setting a new historical high of 47.89 T. This follows an average hash rate of 342.16 EH/s over the last two weeks.

The 7-day moving average of the hashrate has peaked above 350 EH/s and corrected to levels around 340 EH/s. Foundry USA is currently the leader of cryptocurrency mining pools with 34.31% of the total hashrate, followed by AntPool at 18.96%.

These two pools account for more than 53% of the network’s computing power. The difficulty has risen by 35.4% since the beginning of the year, putting pressure on the profitability of bitcoin mining.

Despite this, the cryptocurrency rally has sustained the income of miners, with the digital gold trading near $27,875, up 68.5% since January 1.

The hashprice has decreased by more than 60% since April 7, 2020 to $0.076 TH per day, despite some recovery since the start of 2021.