Bitcoin mining difficulty rose by 1.74% — for the first time in two months

As a result of the latest recalculation Bitcoin’s mining difficulty rose by 1.74%, to 28.17 T. The indicator has shown positive momentum for the first time since the start of June 2022.

Over about a two-week period since the previous recalculation the previous recalculation, the network’s average hash rate stood at 201.43 EH/s. According to Glassnode, the smoothed 7-day moving average is estimated at 197 EH/S, substantially below the peak value from June 11 (231 EH/S).

In July, the Bitcoin Mining Council published a report showing that over the last year mining energy efficiency rose by 46%, while the hash rate increased by 137%.

In June 2022, publicly traded mining companies sold about 14,600 BTC — nearly a quarter of their reserves in Bitcoin.

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