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Bitcoin's mining difficulty has registered its biggest positive adjustment since January 2018

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Bitcoin's mining difficulty just increased by a whopping 14.94% in block 635,040, according to data provided by the mining group BTC.com.

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Miners return to the Bitcoin network

The difficulty shows how difficult it is for miners to produce new BTCs. It is adjusted after each 2016 mined block to reflect the state of the network.

After the miner's reward dropped from 12.5 BTC to 6.25 BTC, the Bitcoin hashrate, which measures the compulsive power of the network, lost 26%.

Some industry players had to turn off your computers after the preprogrammed event cut your winnings in half.

As a result, this exodus of miners was followed by two negative difficulty settings on May 20 (-6%) and June 4 (-9.29%).

Bitcoin's hashrate is likely to decrease

The latest 15 percent rise was expected due to rapid growth in hashrate, which rose to 117.5 EH / s on June 12.

This massive adjustment is likely to eliminate miners with smaller computational resources that are no longer able to break even. Consequently, the network hashrate is likely to decrease in the coming weeks.

Thomas Heller, director of global business at F2Pool, some Bitcoin hashrates will migrate to competing holders (Bitcoin Cash and Bitcoin SV) as they currently offer higher TH revenue.

The entry Bitcoin Mining Difficulty has registered its biggest positive adjustment since January 2018 was first published in Crypto report.



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