Bitcoin mining difficulty falls by almost 28%

As a result of another recalculation, the mining difficulty of the first cryptocurrency fell by a record 27.94% to 14.36 trillion hashes (TH).

The BTC.com service forecasts a further drop in the metric by another 28%.

On May 13, mining difficulty reached a maximum at 25.05 TH. After that the metric fell by 16%, and then — by 5.3%.

Mining difficulty correlates with the hashrate. In May, the computing power of the network of the leading cryptocurrency collapsed by 20% due to power outages in Sichuan province, China.

In June the hashrate continued to decline amid crackdowns on mining in the country.

As of writing, the metric stands at 92.7 EH/s versus the record of 171 EH/s reached in mid-May (according to BitinfoCharts).

Crackdowns on miners in China slashed the Ethereum hashrate.

As Poolin’s vice president Alejandro de la Torre put it, the era of China’s dominance in mining can be considered finished.

CEO Michael Saylor described the government measures against the industry one-trillion-dollar mistake. He is confident that North American miners will come out ahead.

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