Currently, the indicators show that the difficulty of mining Bitcoin has decreased by 2.35%, which is the second sharp decrease this year.
The decline followed a 1.29% increase in difficulty at the beginning of June. Earlier, at the end of May, it had fallen 4.33%.
In the Bitcoin network, Bitcoin Hashrate is the miner’s computational speed of solving the SHA-256 algorithm, also known as hash power. The hash per second is a measure of the miner’s performance. It is the unit representing the number of double SHA-256 calculations performed in a second.
In general, many people often agree that the decline of the Hash Rate also proves that miners have left the network leading to a fall in BTC prices and vice versa. The miners who “discover” this hash will win a reward for the next block of trading. The mining difficulty is adjusted after every 2,016 blocks (about every two weeks) in sync with the network’s hash rate.
Meanwhile, the network’s hash rate has fallen by about 2.6% since June 8.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews