CryptoPolyTech.com
Crypto, Politics, Tech, Gaming & World News.

Bitcoin Network Difficulty Skyrockets Alongsite Hash Rate: Data | CPT PPP Coverage

 | cutline • press clip • news of the day |

Cryptopolytech (CPT) Public Press Pass (PPP)
News of the Day COVERAGE

200000048 – World Newser
•| #World |•| #Online |•| #Media |•| #Outlet |

View more Headlines & Breaking News here, as covered by cryptopolytech.com


Bitcoin Network Difficulty Skyrockets Alongsite Hash Rate: Data appeared on cryptopotato.com by CryptoPotato.

After severe turbulence in the Bitcoin mining industry last year, there seems to be a significant resurgence since the start of 2023.

While it has become even harder to mine BTC, miner revenue has also increased in a much-needed respite for such entities. Bitcoin’s network hash rate, which has been on a steady uptrend, has climbed to another record high of 342.16 EH/s.

  • Foundry USA and Antpool have been dominating the hash rate with 33.9% and 18.7%, respectively.
  • Closely following the hash rate is the mining difficulty also reached an all-time high – increasing by more than 2% – for the fourth consecutive time.
  • Mining difficulty determines the computational power required to mine a block on the blockchain.
  • According to Blockchain.com data, the latest push elevated the metric to 47.89 trillion at a block height of 784,224 on April 7th.
  • Prior to this, the Bitcoin network witnessed a more substantial surge of nearly 8% on March 23. The previous two increases, on the other hand, were around 1.16% and 9.9%.
  • In addition to increases in difficulty and hash rate, Bitcoin’s miner revenue has also reacted positively.
  • Data revealed that the miners’ revenue had experienced nearly 70% growth since the beginning of the year.
  • While miner revenue improved during the later stage of 2022, it wasn’t until March this year that the figure saw a substantial leg-up. In the past month alone, it was up by 27%.
  • Bitcoin mining companies faced a rocky 2022 owing to declining prices that forced several of them to downsize operations or look for alternative sources of income. Some miners fought for survival, others had to shut shop, and some declared bankruptcy.
SPECIAL OFFER (Sponsored)

Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.

FEATURED ‘News of the Day’, as reported by public domain newswires.

Find more, like the above, right here on Cryptopolytech.com by following our extensive quiclick links appearing on images or [NEWSer CHEWSer].
View ALL Headlines & Breaking News here.

Source Information (if available)

This article originally appeared on cryptopotato.com by CryptoPotato – sharing via newswires in the public domain, repeatedly. News articles have become eerily similar to manufacturer descriptions.

We will happily entertain any content removal requests, simply reach out to us. In the interim, please perform due diligence and place any content you deem “privileged” behind a subscription and/or paywall.

CPT (CryptoPolyTech) PPP (Public Press Pass) Coverage features stories and headlines you may not otherwise see due to the manipulation of mass media.

We compile ‘news of the day’ content in an unbiased manner and contextually classify it to promote the growth of knowledge by sharing it just like Bitcoin Network Difficulty Skyrockets Alongsite Hash Rate: Data

First to share? If share image does not populate, please close the share box & re-open or reload page to load the image, Thanks!

You might also like