tldr; Bitcoin’s network difficulty has reached a record high of over 136 trillion, marking its fifth consecutive increase since June. This rise, coupled with declining hashprice revenue—now at its weakest level since June—has created challenging conditions for miners. August saw a 5% drop in average hashprice and a significant decline in transaction fee income, leaving miners with tight profit margins. The situation underscores the mounting pressure on miners unless Bitcoin’s price rises or on-chain activity increases fees.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
AnoAnoSaPwet on
Who’d have thought that OTC BTC being dominant and no one buying new blocks from miners, while transactions fees are at what seems to be an all-time low would be bad for miners as difficulty continues to increase?
DrSpeckles on
They will be looking around for what’s next. This is the start of the end.
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tldr; Bitcoin’s network difficulty has reached a record high of over 136 trillion, marking its fifth consecutive increase since June. This rise, coupled with declining hashprice revenue—now at its weakest level since June—has created challenging conditions for miners. August saw a 5% drop in average hashprice and a significant decline in transaction fee income, leaving miners with tight profit margins. The situation underscores the mounting pressure on miners unless Bitcoin’s price rises or on-chain activity increases fees.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Who’d have thought that OTC BTC being dominant and no one buying new blocks from miners, while transactions fees are at what seems to be an all-time low would be bad for miners as difficulty continues to increase?
They will be looking around for what’s next. This is the start of the end.