Bitcoin Mining Difficulty Rises Nearly 8%

On July 12, following the latest recalculation, the difficulty of mining the leading cryptocurrency increased by 7.96% to 126.27 T.

The figure approached the historical peak recorded in May of 126.98 T.

Following the difficulty adjustment, the average network hash rate fell to 797 EH/s, and the block interval exceeded 11 minutes.

According to Glassnode, the network’s computational power, smoothed by a seven-day moving average, stands at 909.5 EH/s.

The figure has recovered from late July’s local lows below 800 EH/s, during which difficulty plummeted by 7.48%.

According to Hashrate Index, the hashprice fell from ~$64 to ~$59 per PH/s per day after the recalculation. The mining profitability metric offset all gains driven by the digital gold rally, reaching ATH levels above $118,000.

Despite the pressure on the profitability of digital gold mining, some industry players like KULR Technology or Tether are expanding their mining capacities.

Others, such as Bit Digital or BIT Mining, are shifting focus from Bitcoin to accumulating and staking altcoins — Ethereum and Solana, respectively.

Earlier, AI infrastructure provider CoreWeave suggested that after acquiring one of the largest public miners, Core Scientific, for $9 billion, it might completely exit the mining business.