BTC mining complexity at a new level
After the difficulty of BTC mining increased by 0.51%, it became a new historical maximum. It should be noted that the previous record was held just under a month ago: on October 23.
According to Glassnode, bitcoin is now 76% cheaper than its record high from last November. The cost of miners is also at a minimum: $58 thousand per Eh/d. The fall in the value of BTC has put the entire industry in jeopardy.
The news about FTX triggered the distribution of an additional 8,250 BTC to strengthen the balance sheet. This resulted in zeroing out all balance sheet growth for the current year.
The next difficulty adjustment will take place on December 4. Right now, Foundry USA remains the leading pool for mining, accounting for 27.36% of the global hashrate.