Bitcoin Mining Difficulty Decreases by 4.19%

Following the latest recalibration, the difficulty of mining the leading cryptocurrency has decreased by 4.19%, settling at 86.87 T.

The average hash rate since the previous adjustment was 740.3 EH/s, with the interval between blocks being eight minutes and 24 seconds.

According to Glassnode, the smoothed 7-day moving average of computational power reached 622.4 EH/s.

After the difficulty update, the hash price fell to $43.4 per PH per day (Hashrate Index).

Amid the decline in Bitcoin’s price below $50,000 and the drop in hash price to $36 per PH/s per day, analysts at BlocksBridge Consulting highlighted the critically low profitability of Bitcoin mining.

Back in August, daily revenue for miners of the leading cryptocurrency (smoothed by a 7-day moving average) fell to approximately $25.5 million, marking a new low for 2024.