Cryptocurrency miners saw a modest decline in the number of bitcoins (BTC-USD) mined in September vs. August, as an increase in the network hashrate and difficulty screamed trouble for profit margins.
The so-called difficulty of mining is a closely watched metric in the crypto ecosystem. It measures how hard it is to mine a bitcoin (BTC-USD) block based on the amount of participants and computing power (hashing power) used to mine and secure the blockchain. A high difficulty (as a result of high hashing power), as is the case now, tends to lower miners' profitability. Difficulty is currenting sitting around record highs at 31.36 trillion vs. 30.97 trillion a month ago, according to data from blockchain.com.
The bitcoin (BTC-USD) network's hashrate, which measures how much computing power is being used to process transactions on the blockchain, is standing at an all-time high of nearly 255 exahash per second, in a move that underscores margin compression in the mining industry,...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...