The latest recalibration has seen the difficulty of mining the leading cryptocurrency increase by 3.21%, reaching 82.05 T. This marks a return to growth following declines over the previous three periods.
The average hash rate since the previous adjustment was 646.59 EH/s, with the interval between blocks slightly exceeding nine minutes.
According to Glassnode, the smoothed 7-day moving average of computational power increased to approximately 591 EH/s, moving towards the March peak of 636.6 EH/s.
Earlier reductions in mining difficulty and the recovery of bitcoin prices in July contributed to the rise of hashprice to levels above $50 per PH per day (Hashrate Index).
Following the April halving, some experts suggested a miner capitulation. James Check from Glassnode did not support these views, although he acknowledged certain challenges faced by cryptocurrency miners.
Analysts at Bernstein have positively assessed the “Trump factor” for bitcoin miners in light of the upcoming presidential elections in the United States.