On March 9, following the latest adjustment, the difficulty of mining the leading cryptocurrency increased by 1.43% to 112.15 T.
The increase did not offset the 3.15% correction that occurred two weeks ago. However, the figure approached the all-time high of 114.17 T reached in January.
According to Glassnode, the hash rate (smoothed by a seven-day moving average) also has not recovered to the February ATH of 844.95 EH/s. The current value stands at 813.5 EH/s.
Data from Hashrate Index indicates that the hashprice has fallen to its lowest level since February, around $46 per PH/s per day. In addition to the difficulty, the correction in Bitcoin’s price, which on March 10 dropped to the $80,000 level, is exerting pressure on mining profitability.
In February, the market capitalization of 14 publicly traded mining companies in the US fell by 22%.