ISSUES WITH THE MOST CRITICIZED TECHNOLOGY OF BITCOIN MINING DROPPED BY 2.35%
Bitcoin mining profits fell by 2.35% on Thursday, after recording a 1.3% increase earlier this month, according to data from BTC.com.
Mining weight studies are now at 29.57 trillion at a block high of 741,888, according to BTC.com data.
The level of difficulty, which is adjusted almost every two weeks, reached a record high of 31.25 trillion on May 11, but later dropped by 4.3% on May 25.
Bitcoin mining difficulty is a measure of how hard a miner has to work to secure a blockchain transaction, or “dig” Bitcoins.
Such a correction of mining complexity is closely related to changes in mining hashrate - the level of computing power used during mining.
Bitcoin hashrate dropped to 207.1 exahashes per second on Wednesday with an average of seven days from 212.5 exahashes on June 8 when the previous weight adjustment took place, Blockchain.com data showed.