As a result of the next recalculation, the difficulty of mining the first cryptocurrency increased by 1.74% to 28.17 T. The indicator showed a positive trend for the first time since the beginning of June 2022.
Over the approximately two-week period since the previous recalculation, the average network hashrate was 201.43 EH/s. According to Glassnode, the softened 7-day moving average is valuing at 197 EH/S, well below the June 11 high of 231 EH/S.
In July, the Bitcoin Mining Council published a report showing that mining energy efficiency increased by 46% and hash rate increased by 137% over the past year.
Recall that in June 2022, publicly traded mining companies sold a total of about 14,600 BTC – almost a quarter of their reserves in the first cryptocurrency.
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Source: Fork Log
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