{"id":69677,"date":"2022-11-07T17:48:55","date_gmt":"2022-11-07T15:48:55","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=69677"},"modified":"2025-09-07T21:31:58","modified_gmt":"2025-09-07T18:31:58","slug":"bitcoin-mining-difficulty-remains-near-record-high","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoin-mining-difficulty-remains-near-record-high\/","title":{"rendered":"Bitcoin mining difficulty remains near record high"},"content":{"rendered":"

Following another recalculation, the mining difficulty of the first cryptocurrency declined by 0.2%, to 36.76 T. The metric slightly retreated from the previously reached maximum<\/a>.<\/p>\n

\"Bitcoin
Data: BTC.com<\/a>.<\/figcaption><\/figure>\n

The average hashprice<\/span><\/a> remained above 263 EH\/s. The interval between blocks over the recalculation period was virtually the 10-minute target set by the algorithm.<\/p>\n

According to Glassnode<\/a>, the network’s computing power (7-day smoothed moving average) slid back from the November 1 maximum (272.4 EH\/s) to around 267 EH\/s. Since the start of the year (143 EH\/s on January 1), the metric has almost doubled.<\/p>\n

\"Bitcoin
Data: Glassnode.<\/figcaption><\/figure>\n

Arcane Research forecast a decline in mining profitability<\/a> under pressure from the Bitcoin price drop and rising hashrate. In June, cash flow from Bitcoin mining fell by 80%<\/a> from the November 2021 peak \u2014 to levels seen two years ago.<\/p>\n

In early September, Arcane Research noted the solid financial footing<\/a> of publicly traded mining companies. Despite liquidating substantial Bitcoin reserves in June<\/a> and in July<\/a>, in August miners again transitioned to accumulating<\/a> cryptocurrency.<\/p>\n

In September, the industry faced the first major bankruptcy<\/a> of private infrastructure provider for mining Compute North.<\/p>\n

By October, Nasdaq-listed Core Scientific reported a threat of insolvency<\/a>. A similar warning was issued<\/a> by Argo Blockchain, listed on the exchange.<\/p>\n

According to Hashrate Index<\/a>, the hashprice<\/span> since the start of the year declined from $247 per PH\/s-day to $73.5. The metric rebounded from late-October’s minimum at around $66.7 per PH\/s-day.<\/p>\n

\"Bitcoin
Data: Hashrate Index.<\/figcaption><\/figure>\n

Analysts diverged in explaining the reasons for continued hashrate growth in adverse market conditions. Jaran Mellerud of Hashrate Index<\/a> pointed to large-scale equipment purchases by publicly traded miners with deliveries through 2022 and into the early part of the next year. Over the year, publicly traded firms increased their share of Bitcoin mining capacity to 25%<\/a>.<\/p>\n

The founder of Capriole Investments, Charles Edwards, suggested that the rise in hashrate is driven by the unwritten arrival of large energy companies into the industry. In his view, these giants and the enterprises backed by them will become serious players in the industry in the near future.<\/p>\n

According to Hashrate Index<\/a>, the hashprice<\/span> since the start of the year declined from $247 per PH\/s-day to $73.5. The metric rebounded from late-October’s minimum at around $66.7 per PH\/s-day.<\/p>\n

In October, aggregate miners’ revenue rose by 7% from the previous month \u2014 to $589.7 million, according toForkLog’s report<\/a>. In September, the figurefell by 19%<\/a>.<\/p>\n

Read ForkLog’s Bitcoin news in our Telegram \u2014 cryptocurrency news, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"

As a result of another recalculation, mining difficulty of the first cryptocurrency declined by 0.2%, to 36.76 T. The indicator slightly retreated from the previously reached maximum.<\/p>\n","protected":false},"author":1,"featured_media":69678,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1137],"class_list":["post-69677","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-mining"],"aioseo_notices":[],"amp_enabled":true,"views":"24","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/69677","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=69677"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/69677\/revisions"}],"predecessor-version":[{"id":69679,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/69677\/revisions\/69679"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/69678"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=69677"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=69677"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=69677"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}