Bitcoin mining complexity to rise for first time in 8 weeks

Bitcoin heshreyt decidedly bounced back between 125 exahashes (EH/ s) per second, up to 85 EH/s on July 14. The increase in mixed strength saw the next change in mining complexity increase for the first time in eight weeks. Four consecutive levels of difficulty have proved to be the biggest drop in bitcoin’s life, and it will apparently be over in four days.

Ilerliyor moving north
The price of Bitcoin (BTC) has fallen for several weeks, and there has been a crackdown on Bitcoin miners in China over the same period. On May 15, the price of bitcoin began to drop just above the $ 50k mark, and on May 19, it would have been just over the $ 30k zone.

The price drop significantly reduces the revenues of bitcoin miners, and when BTC began to decline on May 15, the complexity of mining was 21.53% higher two days earlier than a year earlier. With miners having more than 21 per cent difficulty finding the block, the next two weeks were exhausting.

Bitcoin heshreyt (90-day chart) July 27, 2021.
On top of that, he watched the Chinese government — in several provinces — crack down on bitcoin miners, outlawing the law in certain areas. The miners, who were surprised, were told to close the facilities on a certain date.

By 9 June, and before two small drops to 137 EH/s, heshreyt managed to stay above 150 EH / S with a 21% higher difficulty. However, China’s actions have greatly affected Chinese bitcoin miners, and on June 28, heshreyt was only 66 EH / s.

Fortunately, bitcoin miners dropped the initial difficulty adjustment when it fell 15.97% on May 29. As the price of BTC deteriorated, organizations that made it harder for miners to take advantage, organizations that helped maintain the blockchain, benefited from three reductions in complexity.

Expected increase in 3-5 difficulty levels%
Four consecutive levels of mining complexity have made it easier to find BTC blocks in the past fortnight by 54% compared to difficulty levels

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