Bitcoin mining difficulty decreased slightly after reaching its highest level at the end of May.
On Saturday, June 15, the network recorded a small but noticeable decrease in difficulty, which raised it to about 126.4 trillion. This is a peak at all of the 126.9 trillion on May 31, according to the data from Blockchain Analysis Company Cryptoquant.
The decrease is slight, but this is a teacher of mining. Bitcoin’s difficulty is almost automatically adjusted every two weeks to reflect the total retail changes, which is the sum of computing power in all mines aimed at solutions to Bitcoin network.
When additional miners join the network, the difficulty increases to help maintain the production of the mass at regular intervals. When miners go without contact due to cost or incompetence, the difficulty decreases in the amendment.
Retail is still strong, bypassing a psychological barrier of Zetahash in the second (ZH/S) in April.
High costs challenge miners
Although it is still less difficult, many miners are struggling with heavier work burdens. The half of April 2024, a scheduled phenomenon that cuts bonus bonus in half of every four years, has cut off the bonus to successfully extract a mass to 3.125 BTC from 6.25 BTC for miners, translating into half of revenues for the same work.
Factors such as high electricity prices, high costs of devices, and pressure to stay with the latest technology rotation in many smaller or medium mining operations on the edge of the abyss.
Expensive production costs for some mines on a small scale, especially in areas with relatively high electric energy prices or relatively ineffective power supply systems. For these miners, maintaining continuous processes burns money, which is a high -risk bet, given that they have either access to cheap energy or expect a sharp rise in bitcoin price soon.
Big players grow despite the opposite wind
While many mines are scrambling, the large companies circulating publicly do the opposite: intensifying and sticking to Bitcoin.
The Digitter Holdings (MARA) said it had produced about 35 % of bitcoin in May despite the opposite winds of the industry. The company also extracted 950 BTC for this month, with an increase in the April amount. Instead of filtering the FIAT coins to cover the costs – as many miners often tend to do – I decided to stick to it through bitcoin mining and increase the volume of corporate treasury to 49179 BTC.
“A record production month for Maara, and we sold zero Bitcoin,” said Salman Khan, the Marathon Financial Director on June 3. On x.
Cleanspark, another major mining company with a degree of focus on renewable energy, has reported solid results. According to what was reported, the company extracted 694 BTC during the month, an increase of about 9 % over the previous month. Hashrate Cleanspark, a basic performance scale, has risen to 45.6 Exhashes per second (EH/S) by the end of May.
Cleanspark Zack Bradford said that the increase was due to the continued investment in cleaner forms of energy and improving mining devices. He added that they have reduced their horizons over the years to remain profitable in difficult macroeconomic environments.
Both companies are part of a new breed of miners who are a source of bitcoin revenues and strategic financial assets. I have boiled to Bitcoin contract on the public budget, a decision that has been increasingly adopted by the tank bonds for companies that try encryption.
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