Bitcoin mining difficulty again hits a new all-time high

As a result of another recalculation mining difficulty of the first cryptocurrency rose by 3.22%. The indicator reached a new high at 49.55 T.

The average hash rate over the two-week period since the previous adjustment previous adjustment reached a record 367.3 EH/s. This indicates miners are continuing to ramp up computational power.

According to Glassnode, on May 15 the smoothed 7-day moving average reached a maximum of 368.3 EH/s. It then corrected to 365 EH/s.

The growth in mining difficulty, alongside a decline in bitcoin price, has become a likely reason for miners’ revenue erosion. However, according to Hashrate Index data, over the last 24 hours hashprice has risen slightly—from $76 per PH per day to $78.

In May, daily inflows of bitcoin miners from fees per block fifth time in history exceeded the mining reward (6.25 BTC). Analysts from Glassnode explained that the situation is linked to the growing issuance of BRC-20 tokens.