The new DEFI platform enters the market! Earn passively - token sale 0.25 $ I'm going in!

Bitcoin mining difficulty reaches second time as miners resolve offshore

2 min reading

The issues related to mining of Bitcoin (BTC) took a toll after China declared a crackdown on mining operations which was at the top, regarding the three quarters of the global hashrate. The recent data from says the present increase in Bitcoin’s mining difficulty beginning from June 17,2021.

The miners from China started to settle down in crypto-positive geographies, the Bitcoin ecosystem sae a 13.77% increase in mining problems in two consecutive increases, surpassing 15 terahash (T) initially since the 2nd week of June. The next adjustment is supposed to end on August 27, estimated to increase the difficulty to 15.63 terahash. Even before China’s crackdown on local miners took place, problems regarding Bitcoin’s mining reached at 25 terahash. The decline in the number of Chinese miners had decreased the competition in setting the blocks. This let the existing the existing miners on the network to achieve higher profits. Information from Statista shows that China’s contribution towards Bitcoin mining has been deduced to almost 46% while the United States picked up the piece arranging at least 17% of the global mining hashrate. 

When CNBC covered this issue, Quantum Economics crypto analyst Jason Deane said that the network’s new issues adjust mechanism has made it 7.3% less profitable to mine Bitcoin. “There is an enormous number of machines coming out of China that need to find new homes.” Said Mike Colyer, CEO of a New-York based digital currency group. China’s step against Bitcoin mining was made due to energy concerns to the electricity consumption of mining operations. After the crackdown Canada, Kazakhstan, Russia and the United States were considered as the best option for migrating Bitcoin miners. Bitcoin’s increasing hash rate would eventually change into higher computational costs. 

Currency Exchange rate Buy cryptocurrency

Buy crypto now

Dear customer,

We use cookies to provide our services correctly and safely. Cookies are small text-based data sets that shall be saved on the device you are using in connection with the use of this instnat website. Cookies are created in order to ensure proper functioning of thes instant website. By clicking the button "I accept and go to the website", you implicitly agree to creation of the cookies on your computer and to deploy automatic tracking and data collection and processing on behalf of the Lushup Holdings FZ LEE. Click the above-captioned button is also tantamount to accepting website's privacy policy. Closing the notification by means of "X" is unequivocally connected with your consent. If you do not agree to any of the above, please discontinue using our Website.

“Cookies” shall make an identification of the software used by you and to customization of this instant website to your needs. Cookies contain the name of the domain from which they origin, duration of period of their storage on your computer and an assigned value.

Third party cookies:
We also use third-party cookies for the following purposes:

  • creating statistics - helping to understand the way Users use the Website, which allows to improve its structure and content with use of the analytical tools
  • defining a user profile - in order to display custom-tailored content in advertising networks.

External entities that might be source of any third-party cookies on this instant Website are as follows:

Using a settings of your web browser or by using pre-set configuration tools available in our service you can independently and at any time change the settings concerning your use of the “cookies”, specifying the conditionsof their storage and how your device is creating and downloading them. These settings can be changed to block the automatic handling of cookies in the settings of your web browser or inform about their placement on your device each time.

Detailed information about the options related to use of “cookies” is available in the settings of your software (web browser).

Service privacy policy

This instant document lays out the principles of the Privacy Policy on the website (hereinafter referred to as the "Website" or "Service"). The administrator of the Website is Lushup Holdings FZ LEE, Fujairah - Creative Tower, P.O.Box 4422 Fujairah, United Arabs Emirates.

The full document to read the Tokeneo privacy policy is available in this document.

Advanced settings can be changed in your browser.