BTC’s lower price shrinks Bitcoin Mining profits, Hashrate remains unaffected – Mining Bitcoin News

While bitcoin’s fiat value has fallen more than 70% below the all-time high recorded in November 2021, the price reduction has made miners earn less depending on the devices they operate. Despite the fact that mining profits have fallen, Bitcoin’s hashr rate has remained high at 180 exahash per second (EH / s) to 261 EH / s. In three days or more than 600 blocks away, Bitcoin’s next difficulty adjustment is also estimated to increase by 0.3%.

Bitcoin Mining earnings are getting smaller and smaller – Fewer Machines Profit

Miners continue to keep the hash rate going, even though profits are much lower than last month. During the last seven days, the network’s hash rate has been between 180 EH / s to 261 EH / s and a weekly average of around 212.6 EH / s.

On June 18, 2022, BTC’s US dollar value briefly reached a low in 2022 of around $ 17,593 per unit and managed to climb back towards $ 19K to $ 21K per unit area. On May 27, 2022, bitcoin miners using Bitmain Antminer Pro devices with up to 110 terahash per second (TH / s) and paying $ 0.12 per kilowatt-hour (kWh) could get around $ 4.63 per day.

Today, at $ 0.12 per kWh, the same Antminer Pro machines are losing $ 0.23 per day in operating costs. Of course, most bitcoin miners seeking profit in today’s market are likely to pay far less for electricity costs than $ 0.12 per kWh, which will increase revenue.

About the same time May 30, 2022 was the network runs at 212.98 EH / s and 448 blocks were discovered over a three-day period. During the last three days until July 1, 2022, 455 blocks hahas been found by miners.

The number of Bitcoin mining pools has declined over the last 30 days

One month ago, Foundry USA was the leading mining pool in three days with 42.79 EH / s dedicated to the Bitcoin chain. 30 days later, Foundry commands 44.28 EH / s after capturing 94 of the 455 blocks found.

While Foundry is still the top mining pool, it is followed by Antpools 33.92 EH / s and F2pools 29.68 EH / s. Last month, unknown or stealth miners dedicated 3.33 EH / s to the BTC chain, and currently the unknown hash rate is around 3.30 EH / s.

On May 30, 2022, there were 14 known mining pools and stealth miners, but today there are only 11 known mining pools plus the unknown hashish that dedicates hash power to the BTC blockchain. The Bitcoin network is expected to see an increase in the difficulty adjustment algorithm (DAA) in three days.

It is currently estimated to be 0.3% higher than the current 29.57 trillion difficulty level. A higher DAA shift will make miners feel a little more pressure, unless BTC prices rise higher. At present, at $ 0.12 per kWh, most bitcoin ming rigs with lower hashrate ratings are not profitable with the electricity they draw from the wall.

What do you think about the current state of bitcoin mining, the network hash rate and the next DAA shift? Tell us what you think about this topic in the comments section below.

Jamie Redman

Jamie Redman is a news editor at Bitcoin.com News and a financial engineering journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source and decentralized applications. Since September 2015, Redman has written more than 5,700 articles for Bitcoin.com News about the disruptive protocols that are emerging today.