While Miners Cope With Low BTC Prices, Expected 3% Increase in Bitcoin Mining Difficulty

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After printing the biggest reduction in 2022 on December 5 at block height 766,080, the mining difficulty target for bitcoin is anticipated to rise on December 19, 2022.

On December 19, Bitcoin’s Difficulty is anticipated to increase by 3%, and the average mining costs are more than the current spot market value.

The Bitcoin network will go through another difficulty change in about 24 hours, and this time it is predicted to get worse.

The growth over the current 34.24 trillion value is predicted to be between 3.2% and 3.76%.

Data indicates that while the difficulty of the network is rising, BTC’s hashrate has decreased over the previous month.

On December 1, 2022, the hashrate of bitcoin reached a high of 316 EH/s.

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Current Bitcoin hashrate is 236.97 EH/s, and tomorrow, on December 19, 2022, the network’s difficulty is expected to rise.

The anticipated 3% adjustment comes after the most recent difficulty update, which took place on December 5 at block height 766,080 and resulted in a reduction of about 7.32%.

On that day, the network’s mining difficulty retarget experienced the biggest decline in 2022.

The most recent reduction will be wiped by about 3% if the anticipated increase takes place on December 19, 2022, making it more challenging for miners to locate a BTC block.

With 27.05% of the total hashrate over the last three days, or 66.59 EH/s, Foundry USA has been the leading mining pool on the Bitcoin network.

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