{"id":488413,"date":"2022-08-28T11:46:58","date_gmt":"2022-08-28T08:46:58","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-mining-difficulty-set-for-8-month-record-gains-despite-btc-price-dip\/"},"modified":"2022-08-28T11:46:58","modified_gmt":"2022-08-28T08:46:58","slug":"bitcoin-mining-difficulty-set-for-8-month-record-gains-despite-btc-price-dip","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-mining-difficulty-set-for-8-month-record-gains-despite-btc-price-dip\/","title":{"rendered":"# Bitcoin mining difficulty set for 8-month record gains despite BTC price dip"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a291cb47062b\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a291cb47062b\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-mining-difficulty-set-for-8-month-record-gains-despite-btc-price-dip\/#%E2%80%9D_Bitcoin_mining_difficulty_set_for_8-month_record_gains_despite_BTC_price_dip_%E2%80%9C\" >&#8221; Bitcoin mining difficulty set for 8-month record gains despite BTC price dip &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-mining-difficulty-set-for-8-month-record-gains-despite-btc-price-dip\/#Data_supports_%E2%80%9Cdoozy%E2%80%9D_difficulty_jump\" >Data supports &#8220;doozy&#8221; difficulty jump<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-mining-difficulty-set-for-8-month-record-gains-despite-btc-price-dip\/#Hash_rate_rebounds_to_target_all-time_high\" >Hash rate rebounds to target all-time high<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_mining_difficulty_set_for_8-month_record_gains_despite_BTC_price_dip_%E2%80%9C\"><\/span>&#8221; Bitcoin mining difficulty set for 8-month record gains despite BTC price dip &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-28d77a7a>Bitcoin (BTC) may have hit six-week lows of under $20,000 but its network fundamentals are anything but bearish.<\/p>\n<p>The latest on-chain data shows that, far from capitulating, hash rate and difficulty are making snap gains.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Data_supports_%E2%80%9Cdoozy%E2%80%9D_difficulty_jump\"><\/span>Data supports &#8220;doozy&#8221; difficulty jump<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Despite being down around 7% in a week, BTC\/USD is not putting off miners, who have recently exited their own multi-month capitulation phase.<\/p>\n<p>Now, with hardware and competition returning to the network, fundamental indicators are firmly in &#8220;up only&#8221; mode as August draws to a close.<\/p>\n<p>This is neatly captured by difficulty \u2014 an expression of, among other things, the scale of competition among miners for block subsidies \u2014 which is due to increase by an estimated 6.8% next week.<\/p>\n<p>According to data from on-chain monitoring resource <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/btc.com\/stats\/diff\">BTC.com<\/a>, this will be the highest upward difficulty adjustment since January this year.<\/p>\n<p>Not only that, but should the 6.8% increase materialize, difficulty will jump to new all-time highs.<\/p>\n<p>&#8220;We may see a difficulty jump doozy enough to set a new (or close to new) ATH in a few days,&#8221; Bitcoin mining consultancy firm Blocksbridge forecast in the latest edition of its regular <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a>letter, &#8220;<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.getrevue.co\/profile\/BlocksBridge\/issues\/miner-weekly-difficulty-ath-plus-gmo-vs-whinstone-case-1326794\">Miner Weekly<\/a>,&#8221; released on Aug. 27.<\/p>\n<p>Blocksbridge nonetheless noted that the current climate was not easy for all network participants. Those with older equipment, for example, were feeling the squeeze thanks to spot price losses and equivalent drop in value of block subsidies and fees versus costs such as electricity.<\/p>\n<p>&#8220;Long story short is that the bear market is really crashing those with inefficient mining fleets,&#8221; it continued.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-08\/bb2fe9c2-7051-4d3a-809b-bdbf08bd0c5d.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>Bitcoin mining overview (screenshot). Source: BTC.com<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Hash_rate_rebounds_to_target_all-time_high\"><\/span>Hash rate rebounds to target all-time high<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Back to more bullish numbers and Bitcoin&#8217;s hash rate looks to be copying difficulty in a fresh push for new record highs.<\/p>\n<p><strong><em>Related:\u00a0Still growing \u2014 Armenian mining operator increases power plant capacity<\/em><\/strong><\/p>\n<p>According to estimated data from monitoring site <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/miningpoolstats.stream\/bitcoin\">MiningPoolStats<\/a>, hash rate stood at up to 246 exahashes per second (EH\/s) as of Aug. 22, inches from all-time highs of 251 EH\/s measured in late April.<\/p>\n<p>Hash rate is always an estimate, and its value fluctuations do not imply direct increases or decreases in miner activity.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-08\/311a0857-eaab-402e-a207-1974f72e6537.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin estimated hash rate chart (screenshot). Source: MiningPoolStats<\/em><\/figcaption><\/figure>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-mining-difficulty-set-for-8-month-record-gains-despite-btc-price-dip\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bitcoin mining difficulty set for 8-month record gains despite BTC price dip &#8220; Bitcoin (BTC) may have hit six-week lows of under $20,000 but its network fundamentals are anything but bearish. The latest on-chain data shows that, far from capitulating, hash rate and difficulty are making snap gains. Data supports &#8220;doozy&#8221; difficulty jump Despite&#8230;<\/p>\n","protected":false},"author":1,"featured_media":488414,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDgvZGU2YzljNjItNTBiMS00NmUzLTgwODQtNTM2ZTc3NzI3MTNjLmpwZWc=.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74989,74937,75462,73785],"class_list":["post-488413","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-mining","tag-bitcoin-price","tag-hash-rate","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/488413","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=488413"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/488413\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/488414"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=488413"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=488413"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=488413"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}