Bitcoin Difficulty Retargeting adjusted down to 22.34T, first time since July, 31st

February 16, 2022
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According to data, Bitcoin had reduced the mining difficulty by 1.49% down to 22.34T at the Block Height of 711648 on Nov, 28th. That is the first reduction since July, 31st. There was a nine-time increase in a row before this.

In fact, recent data shows that miners' profitability has improved significantly as Bitcoin price has risen again, making it possible even less efficient to continue mining.

However, over the past 90 days, Bitcoin's has rate has been rising, and gradually reaching its highest level six months ago. Due to the increasing computing power, Bitcoin raised the difficulty nine times in a row to near its highest level six months ago. Bitcoin price has been volatile in the past week, which may have contributed to the ease of mining.

Overall, the Bitcoin network is still very stable. Compared with investors who speculate the coins, the risk may be caused by market volatility. Since the end of 2020, even if the currency prices fluctuates enormously, since the prices is always high, the impact of market fluctuation on the miners is almost negligible, and it is always profitable for miners.

Even a small reduction in difficulty could help miners who are still online gain more. If customers want to dig in this current great time, there is a variety of mining packages RHY offers, such as machine ownership and hosting.

Mining machine property package offers different types of models for customers. The property rights belong to the miners, mining pools and wallets can also be specified and set by themselves. Customers are able to apply for picking up the machine at any time. Yet, if the investment is not large.