Bitcoin Mining Difficulty Reaches Record-High

Being a Bitcoin miner isn’t easy at the moment. At 35.6 trillion hashes and a 14% increase, Bitcoin mining difficulty is now the highest it’s ever been.

This is the largest difficulty hike that Bitcoin miners have experienced since May 2021, when it rose by 22%. The difficulty issue correlates with the decreasing profits that miners are making. According to Blockchain.com, the overall Bitcoin mining revenue is 53% lower compared to early 2022. On average, Bitcoin miners are making $19 million a month.

While the increasing difficulty suggests a rising number of miners, it’s sure a lot harder to mine Bitcoin now than it used to be. According to CoinMarketCap, Bitcoin is currently valued at $19,062.