Bitcoin mining difficulty dips 0.5% over two weeks after hitting record high

TL;DR Bitcoin's mining difficulty decreased by 0.5% in the two weeks since Jan 29 after hitting an all-time high. The latest difficulty reading was 46.7% higher than that on Feb 4 of last year. Bitcoin's hashrate, a measure of computational power used by miners, was at around 315.9 exahashes per second on Sunday, slightly up from 311 exahashes on Jan 29. The profitability rate of Bitcoin mining stood at US$0.

Bitcoin’s mining difficulty edged down 0.5% in the two weeks through Sunday after hitting an all-time high in the previous adjustment, according to data from BTC.com. The difficulty changes roughly every two weeks, and is a measure of how much computing power is used for mining bitcoin blocks to be rewarded with Bitcoins.See related article: Bitcoin miner Greenidge Generation cuts NYDIG debt 78% to US$17 millionFast factsThe mining difficulty reading came in at 39.16 trillion at block height 776,160 in Sunday’s biweekly adjustment, following a 4.68% rise in the previous adjustment on Jan. 29.The latest Bitcoin mining difficulty reading was 46.7% higher than that on Feb. 4 of last year, when the difficulty reading was at 26.69 trillion.Bitcoin’s hashrate, a measure of computational power used by miners, was at around 315.9 exahashes per second on Sunday, slightly up from 311 exahashes on Jan. 29, BTC.com data showed.Bitcoin’s price slid 0.3% over the last 24 hours to trade at US$21,744 at 10:40 a.m. in Hong Kong, for a decline of 5.34% over the past seven days, according to data from CoinMarketCap. The largest coin by market capitalization rose 9.2% over the past month.The profitability rate of Bitcoin mining stood at US$0.0729 per terahash per second in the past 24 hours, down from US$0.184 from a year ago, data from BitInfoCharts showed.See related article: Markets: Bitcoin treads water under US$22,000 following SEC action on Kraken, Ether falls

Source