The complexity of BTC mining at historical levels

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Ultramining.com

15:36 Oct 11, 2022

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The complexity of BTC mining at historical levels

According to Bloomberg, the number of bitcoin miners has increased as a result of ETH's transition to the new algorithm.

The complexity of mining increased by 13.55%, reaching record levels. This means that the number of miners who mine bitcoin is growing and the level of competition between them is increasing.

For miners, the situation is conditioned by the fact that against the falling value of the first cryptocurrency, the profitability tends to zero. At the time of writing this article, BTC is worth $19120.62. According to different estimates, the production cost of one coin is between $15,000 and $17,000 or even higher.

The market capitalization of BTC is $368,501,805,204, the trading volume in 24 hours is $24,290,140,852.


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