Bitcoin mining sees eighth consecutive difficulty increase amid high competition
Bitcoin mining sees eighth consecutive difficulty increase
Bitcoin mining difficulty has risen by 0.41%, reaching a record 111.45 trillion (T).
This marks the eighth consecutive positive adjustment for the network, underscoring the fierce competition among miners as the Bitcoin hashrate remains elevated. Mining difficulty adjusts approximately every two weeks to maintain an average block mining time of 10 minutes, balancing network stability, according to the Cryptopolitan.
The surge in difficulty corresponds with a high hashrate, currently at 847 exahash per second (EH/s), according to Coinwarz. While this figure is below the peak of 955 EH/s recorded on January 2, 2025, it signals sustained miner activity and investment in computing power.
The higher hashrate reflects greater participation and security in the Bitcoin network but makes the cryptographic puzzles miners solve increasingly complex.
Rising Difficulty: What It Means for Bitcoin
Historically, consecutive increases in mining difficulty have coincided with varying market trends. Crypto analyst James Van Straten notes that similar patterns occurred during both bull and bear markets, making it challenging to predict Bitcoin’s next move based on difficulty alone.
While Bitcoin reached its $69,000 all-time high in 2021 amid nine positive adjustments, the longest streak of 17 adjustments in 2018 unfolded during a bear market.
Despite the challenges posed by rising difficulty, miners remain profitable, with earnings at approximately $0.048 per day per terahash per second (TH/s), according to Bitinfocharts. The current Bitcoin price of over $90,000 sustains profitability for most mining rigs.
However, falling Bitcoin prices or further difficulty increases could pressure miners, already grappling with rising energy costs and competition.
To diversify, some miners are hosting high-performance computers for AI developers or holding onto their Bitcoin reserves to offset reliance on sales. Collectively, miners now hold over 92,000 BTC, showcasing resilience in the face of growing challenges.
Recently, BIT Mining announced that diversifying into Dogecoin (DOGE) and Litecoin (LTC) mining has been significantly more profitable than focusing on Bitcoin (BTC) alone. The company revealed that mining DOGE and LTC is nearly three times more profitable than mining BTC.
