The complexity of bitcoin mining has broken the historical maximum

The mining difficulty of the flagship cryptocurrency has updated its historical maximum, hitting 39.35 Tx/s. The indicator grew by 4.68% after the next difficulty recalculation. The average 7-day hashrate of the network is at 291 EH/s.

The complexity of BTC mining illustrates a gloomy outlook for miners, as electricity costs will increase significantly and reduce profits from cryptocurrency mining. Due to its significant impact on the environment, bitcoin has been equated with oil production. According to researchers, between 2016 and 2021, every dollar of bitcoin’s market value accounted for an average of $ 0.35 of global «climate damage.»

«On this scale, bitcoin mining is in the range between beef production and crude oil burned as gasoline ,» environmentalists and scientists said.

We would like to remind you that the previous record mining difficulty was recorded at the end of October — 36.84 Tx/s. The average hashrate then stabilized above 260 EH/s. The interval between blocks during the previous difficulty correction period was 9 minutes and 40 seconds.