CITEX丨Bitcoin Mining Difficulty Raised, Mining Industry Picks Up2023-05-23
(May 19th) data shows that the difficulty of Bitcoin mining ushered in the adjustment of mining difficulty at block height 790272, and the mining difficulty increased by 3.22% to 49.55 T. At present, the average computing power of the entire network is 364.29EH/s. Bitcoin difficulty is an important parameter to measure the difficulty of mining blocks on the Bitcoin blockchain. It will be automatically adjusted according to changes in the computing power in the Bitcoin network to ensure that the block production in the Bitcoin network The output speed is stable at about every 10 minutes. Recently, the difficulty of Bitcoin has continued to increase, reaching a record high. This news has also attracted widespread attention in the market.
It is true that the upward adjustment of Bitcoin difficulty means that the calculation difficulty in the Bitcoin network has increased, and more computing power is required to generate new Bitcoins. For miners, this means that mining becomes more difficult and more expensive. Therefore, an increase in the difficulty of Bitcoin may result in lower profits for miners. However, when the difficulty of mining is high or continues to rise, it indicates that more mining machines are put into operation, the market is full of confidence, and the entire mining industry is recovering.
In the current market environment, mining revenue is affected by various factors, such as mining difficulty, network computing power, electricity costs, and the market price of Bitcoin and other digital currencies. Therefore, for miners who want to enter mining, it is necessary to comprehensively consider these factors to determine the best entry time and mining strategy.
The mining industry is also constantly evolving and changing. With the advancement of technology and market competition, the mining industry will gradually mature. Mining revenue will gradually decrease, mining costs will gradually increase, and the mining industry will become increasingly difficult to make a profit. However, the current mining industry is still far from a mature market, and there are still many opportunities and profit margins. At present, the mining industry is still far from a mature market, and it is still profitable.
Citex Exchange deploys mining farms all over the world. Under the background of the ever-changing digital currency market, Citex Exchange will continue to adhere to the professional, safe, efficient, and convenient service concept, and continue to introduce more useful products and services for global users. Provide a better digital currency trading experience. At the same time, Citex Exchange will also continue to strengthen cooperation with world-renowned digital currency mines and companies, continuously improve the technology and capabilities of digital currency mining, and provide global users with richer and more diverse digital currency mining services.
The above information is compiled by the CITEX content group, which is for learning and exchange purposes only, and does not constitute investment advice. For more information, please pay attention to the follow-up content. As the world’s No. 1 mining exchange, CITEX always puts users’ interests first and is committed to providing safe, transparent, open and efficient digital asset services. In the future, CITEX will continue to be oriented by the market and user needs, with multiple depths and multiple innovations, to launch more high-quality products, and to provide users with more investment opportunities and satisfactory services.