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Bitcoin Mining Difficulty Decreases by 2.3%

Bitcoin Mining Difficulty Decreases by 2.3%

Bitcoin mining difficulty fell by 2.3% to 132.47 T after the latest adjustment.

On May 2, following the latest adjustment, the mining difficulty of the leading cryptocurrency fell by 2.3%, reaching 132.47 T.

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Source: CloverPool

The average hash rate at the time of writing stands at 952.5 EH/s. The block interval has increased to 11 minutes and 30 seconds.

According to Glassnode, the smoothed 7-day moving average of the network’s computational power is approximately 955 EH/s. In mid-April, the figure briefly exceeded 1 ZH/s.

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Data: Glassnode.

Data from Hashrate Index indicates that amid the reduction in difficulty, the hash price exceeded $37 per PH/s per day for the first time since late January. 

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Data: Hashrate Index.

Foundry USA remains the largest pool with a hash rate share of nearly 31%, followed by AntPool (15%) and SpiderPool (11%). 

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Source: CloverPool

Major miners continue to adhere to a strategy of liquidating reserves. Bitdeer has been selling all mined coins for several consecutive weeks. 

Over the past seven days, the firm has released 186 BTC to the market, once again reducing its reserves to zero. 

Earlier, Wintermute experts stated that the traditional business model of Bitcoin miners is becoming obsolete due to declining profitability.

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