Bitcoin mining difficulty hits a new all-time high

As a result of another difficulty adjustment, the mining difficulty of the first cryptocurrency rose by 7.56%. The metric reached an all-time high at 46.84 T.

Average hash rate stood at 335.23 EH/s. Since the start of the year, correlated metrics have risen by more than 30%.

According to Glassnode, the smoothed 7-day moving average of network hash power reached 339.7 EH/s.

Since the previous increase in difficulty, the hashprice has risen by more than 37%, thereby increasing miner revenues. The drivers were Bitcoin rallies and a drop in electricity prices in the United States.

The price of the first cryptocurrency has risen by more than 72% since the start of the year. At the time of writing, the asset was trading above $28,400.

In February, the total revenue of Bitcoin miners stood at $627.4 million, which was 4% higher than January’s figure, according to ForkLog’s analytical report.