On the night of June 17, another recalculation of the complexity of bitcoin mining took place, after which it increased immediately by 14.95%, reaching 15.78 trillion. This is the largest increase since January 2018.
The difficulty was recalculated at block 635,040. The complexity of bitcoin mining is recalculated approximately once every two weeks, and the current period will be the fourth highest level of complexity in the history of the first cryptocurrency.
After halving the reward for miners, the complexity of bitcoin mining decreased twice – on may 20 and June 4. However, after this, a significant increase in the hashrate of the first cryptocurrency network was recorded.
If at the beginning of the month the average hashrate of the Bitcoin network was 98 eh/s, at the moment this indicator is 113 eh/s. This led to a strong increase in the complexity of recalculation.
After recalculating the complexity, each terahash of the power of the mining equipment brings 0.000008 BTC per day (about $0.08). According to the co-founder and financial Director of the Luxor mining pool, Ethan Vera, with this ratio of profit per TX/s, miners will again start disabling outdated equipment.
“The new hashrate that will be added to the network hashrate will be generated by new and energy – efficient equipment,” said Ethan Vera.
Earlier it was reported that after the reward was halved, bitcoin miners began to disable outdated equipment, and the total energy consumption for mining the first cryptocurrency decreased by 24%.