Bitcoin Mining Difficulty Dropped by 16%

According to the results of the last recalculation, the complexity of mining the first cryptocurrency decreased to 21.05 T. Service BTC.com predicts a drop in the indicator by almost 16% – to 17.72 T.

In relation to the record level reached on May 13, the complexity of mining decreased by 16%.

Data: BTC.com.

For most of May, the hashrate of the bitcoin network shows a negative trend.

A smoothed 7-day moving average of the bitcoin hashrate. Data: Glassnode.

The drop in hashrate began a week before news of China’s intention to take tough measures against cryptocurrency mining and trading.

Since the second half of May, the interval between blocks has consistently exceeded 10 minutes.

Data: BitInfoCharts.

“Some miners have started migrating from the northern Chinese provinces to the hydropower-rich Sichuan. Power plants in Sichuan have started to restrict supplies to energy-intensive industries, including mining, due to the late rainy season this year, ” said Wolfie Zhao of The Block.

Recall that in May, the authorities of Inner Mongolia began to fight against illegal mining. Recently, sanctions for illegal activity in the production of cryptocurrencies have become known.

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