Bitcoin mining is getting tougher! On August 22nd, the mining difficulty for Bitcoin established a new peak, reaching 129.7 trillion. This new record was achieved after a minor adjustment of only 0.2%.
The difficulty has trended upwards over the recent four adjustment periods, which occur roughly every two weeks. The average time between blocks remains consistently under 10 minutes. Current forecasts predict the difficulty will increase by another 1.15% in the next adjustment.
According to data from Glassnode, the Bitcoin network’s hash rate (smoothed using a 7-day moving average) is currently at 945 exahashes per second (EH/s). A peak hash rate of 966 EH/s was observed earlier this month on August 7th.
According to BitcoinMiningStock, publicly traded mining companies now contribute approximately 39.7% of the total computing power dedicated to the Bitcoin network.
Regarding mining pool distribution, Foundry USA currently controls the largest share with 32.8% of the hash rate. AntPool follows with 16.2%, and ViaBTC holds 11%. Combined, these three pools account for about 60% of the network’s hash rate.
Data from Hashrate Index shows that the hash price, representing miners’ revenue per unit of computing power, increased over the last day, rising from $55.3 to $56.5 per PH/s per day. This increase in mining profitability coincides with the minor network difficulty adjustments and the recovery of Bitcoin’s price to levels above $11,500.
Previously, GoMining Institutional forecasted a resurgence of institutional investment in Bitcoin mining, driven by increasing competition with the AI sector for energy resources.
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