The complexity of BTC-mining 4.3% down
As a result of the next recalculation yesterday the complexity of mining has fallen by 4.33% and reached the lowest level since July 2021. Average two-weeks hashrate has declined too in comparison to the previous correction.
Jaran Mellerud, the Arcane Research analyst, the profitability of mining is continuing to go down. For example, in November 2021 miners Antminer S19 had $500 profit using 1MWt/h. Now this value is only $146. All equipment S9 series that have indicator $40 are close to break-even point.
Other experts from Arcane Research noticed the pressure on the profitability of BTC-mining from declining the bitcoin rate and increasing of hashrate. The biggest fall occurred in July 2021 after prohibition of the cryptocurrency in China.
By the way, at the end of 2021 analytics informed that Chinese miners are genering about 20% of global BTC-hashrate. The Center of Alternative finance by Cambridge University has the same opinion: China is still at the second place in the world.