Crypto science

The mining difficulty of Bitcoin has increased by 3.22% in the latest adjustment, reaching a new record high of 49.55 T. The average hash rate over the two-week period since the previous change has also reached a record-breaking 367.3 EH/s, indicating continued expansion of computational power by miners.

According to Glassnode, on May 15th, the 7-day moving average of the smoothed hash rate peaked at 368.3 EH/s before correcting to 365 EH/s. The rising mining difficulty combined with the declining price of Bitcoin may have led to a decrease in miners’ profits. However, data from Hashrate Index shows a slight increase in hash prices over the past 24 hours, from $76 per PH per day to $78.

In May, the daily revenue of Bitcoin miners from transaction fees exceeded the block rewards (6.25 BTC) for the fifth time in history. Glassnode analysts explained that this situation is linked to the increasing issuance of BRC-20 tokens.

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