strong buy
Bitcoin Mining Difficulty Reaches New Peak Amid Profit Decline
Recently, the difficulty of Bitcoin mining has reached an all-time high of 127.62 trillion hash computations. This surge coincides with increased computing power, yet the profitability of mining continues to decline. Currently, miners need to compute approximately 127 trillion hashes to mine a block, which yields a reward of 3.125 BTC.
Experts report that the average network hash rate stands at 985 Eh/s, with the largest pools controlling over 65% of the global hash rate. Despite a mining revenue of around $59 per Ph/s, escalating difficulty presents additional challenges.
Even amid these hurdles, Russian miners are projected to mine about 40,000 BTC by 2025.
As of July 28, Bitcoin's price is approximately $118,000, with an extraction cost estimated at $30,000 to $40,000 per BTC.
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AI Analysis
The recent surge in Bitcoin mining difficulty to a record 127.62 trillion hashes reflects a significant expansion in the network's computational capacity. This increase is likely driven by the entry o...
AI Recommendation
Investors should remain cautious about increased mining difficulty potentially signaling a less favorable environment for mining profitability, especially if Bitcoin prices do not increase proportiona...
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.