This is the biggest reduction in difficulty so far this year.
The hashprice returns to values above USD 0.10, which have not been seen for a month.
The Bitcoin network had, minutes ago, a considerable reduction in its mining difficulty. This fell by 5.01% and is the largest reduction so far this year.
At the time of this publication and for the next two weeks, the bitcoin mining difficulty will be 27.69T. As the CriptoNoticias glossary indicates, the difficulty is a “number that determines the complexity of the hash puzzle to be solved in each block. It varies based on the computing power of the miners on the network and is adjusted every 2016 blocks.”
The change implies a consequent increase in the profitability of the bitcoin miners. The hashprice, which is the estimated value a Bitcoin miner will receive for each terahash of power they invest in the network, is now at $0.11. Since mid-June this value has not exceeded USD 0.10.
CriptoNoticias recently reported that low profitability is a problem for those who mine. Many who could not or did not want to assume negative returns decided to disconnect.