Bitcoin Mining Difficulty Set to Increase Amid Low Hash Prices
- The bitcoin mining difficulty is projected to rise from 149.30 trillion to 154.72 trillion on December 10.
- Current hash price stands at approximately $38.6 per PH/s per day, close to the break-even point of $40.
- Bitcoin miners’ cumulative debt has surged by 500%, reaching a total of $12.7 billion.
- Geopolitical tensions and potential taxation in New York are adding pressure on the mining industry.
- China has regained over 14% of global bitcoin hashing power in Q4.
The anticipated increase in mining difficulty comes as miners face challenges from low hash prices and significant debt levels, which have escalated due to various economic pressures and regulatory uncertainties.
With the upcoming adjustment potentially raising difficulty levels, miners must navigate a precarious landscape marked by a hash price near its break-even point of $40 per PH/s.(Source)
