As a result of another recalculation on May 11, the difficulty of mining the first cryptocurrency increased by 4.89%, reaching a record high of 31.25 T.

Since the beginning of 2022, the indicator has only corrected negative three times. The maximum drop was 1.49%.

Since the previous recalculation, the average hashrate has reached 223.7 EH/s.

According to Glassnode, the adjusted 7-day moving average of Bitcoin network computing power is 222.2 EH/s. A maximum of 227.2 EH/s was recorded on 5 May.

In 2022, the hash rate has increased by about 32%.

Earlier, Arcane Research analysts noted the pressure on mining profitability due to the decline in bitcoin price and the growth of the hash rate.

At the time of their research, the first cryptocurrency was trading around $40,000. On May 10, digital gold prices fell below $30,000.

Recall that the total revenue of miners in April was 4% less than in the previous month – $1.15 billion.