Bitcoin mining difficulty hits a new high

As a result of the latest adjustment Bitcoin mining difficulty rose by 2.23%. The metric hit a new all-time high of 47.89 T.

Average hashrate over roughly two weeks since the previous adjustment also stood at a record 342.16 EH/s. According to Glassnode, the smoothed 7-day moving average rose above 350 EH/s, before easing to around 340 EH/s.

In terms of pools, Foundry USA maintains a comfortable lead with a 34.31% share of the total hashrate. Following it is AntPool at 18.96%. These two entities control more than 53% of the network’s computing power (read ForkLog’s educational cards about 51% attack).

Since the start of the year, difficulty has risen by 35.4%, weighing on Bitcoin mining profitability. The rally in cryptocurrencies supported miners’ income. As of writing, digital gold is trading near $27,875 — about 68.5% above January levels (CoinGecko).

As of April 7, hashprice stands at $0.076 per TH per day. A year ago the metric stood at $0.19, a decline of more than 60%, despite a partial recovery since the start of 2023.

Back in March, total miner revenue reached $757.8 million, up 21% from February. In the last month of winter, the figure stood at $627.4 million — up 4% from January.