Bitcoin mining difficulty hits lowest level since March as price tops $57K
Bitcoin mining difficulty dropped by more than 5% on July 5 to a quarterly low of 79.50 terahashes per second (TH/s). This marked the largest reduction since March when it briefly dipped below 80 TH/s.
Difficulty spiked between March and May, reaching an all-time high of 88.10 TH/s before slowly settling to where it currently stands at the time of publication.
Mining difficulty
Bitcoin mining difficulty is measured in hashrate, which is the number of guesses a mining machine should be expected to make before it solves the cryptographic puzzle necessary to unlock one of the remaining Bitcoin ( BTC ).
Hashrates are updated every 2,016 blocks, which takes approximately two weeks. With few exceptions, during Bitcoin’s lifetime, hashrate has typically grown month-to-month.
Back in 2014, for example, the hashrate measured about 1.1 gigahashes per second. This was low enough that most desktop PCs could mine Bitcoin (the higher the hashrate, the more powerful and energy efficient a mining rig needs to be to be profitable).
Related: Post-halving profitability challenges to the mining industry
Toward the end of 2017, as adoption began picking up, the hashrate reached the terahash mark for the first time. And as of July 6, 2024, it remains at 79.5 TH/s until the next difficulty update.
Under the current difficulty measure of 79.5 TH/s, mining pool F2Pool estimates that an ASIC rig with a watts per terahash efficiency rate of 26 or better (lower) would be profitable as long as Bitcoin’s price doesn’t dip below the $54,000 threshold.
“With a $ BTC price of $54k, ASICs with Unit Power of 26 W/T or less can make a profit. We estimate this at $0.07 per kWh.”
If Bitcoin’s price dips lower, more efficient rigs will be needed to keep miners profitable. If it remains the same, conditions should be acceptable for the largest miners, especially those in places where energy subsidies exist for mining facilities.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Uniswap front-end transaction fees have reached $182.88 million
Trump Exempts Tech Devices from New Tariffs
Trump exempts smartphones, computers, and chips from new tariffs, easing pressure on the tech and crypto industries.Major Tech Relief as Trump Exempts Devices from TariffsCrypto Sector Also Stands to BenefitPolicy Shift Aims to Stabilize Markets

Can You Still Mine Bitcoin at Home in 2025?
Discover four practical ways to mine Bitcoin at home in 2025, from USB miners to compact ASIC rigs.USB Bitcoin Miners: For Hobbyists and LearnersHome-Friendly ASICs: Efficiency in a Small PackageHosted Mining at Home: Remote Hardware, Local ControlRenewable-Powered Rigs: Go Green, Save CostsFinal Verdict: Feasible, But Strategic

Shaq Settles $11M NFT Suit, BTC Eyes $100K by June
Shaquille O’Neal settles $11M NFT lawsuit, while Bitcoin eyes a $100K rally by June. Here’s your weekly crypto recap.Shaq to Pay $11M in Astral NFT Lawsuit SettlementBitcoin Eyes $100K by June, Says Analyst ConsensusMarket Roundup: Bullish Across the Board

Trending news
MoreCrypto prices
More








