Bitcoin mining ignores temporary decline in its price

The bitcoin mining difficulty index may hit an all-time high this week.
In August, there was a noticeable increase in bitcoin mining capacity in the world. Analyzing what is happening, the experts of the consulting company Blocksbridge concluded that this week the bitcoin mining complexity indicator may renew its historical maximum, increasing by 6.8%, which is a record for the last eight months.
This month’s bitcoin mining difficulty score on block #749952 was 28.35 trillion, down 10% from the previous high of 31.25 trillion in May. The average time between blocks dropped to 9.1 minutes, signaling that the bitcoin mining difficulty score will rise sharply to restore the interblock time to just under 10 minutes.
Competition between bitcoin miners is now approaching its highest level since the beginning of this year. On August 29, bitcoin’s hash rate is 199.4 Eh/s, trending generally closer to the all-time high of 251 Eh/s recorded in April of this year.
It is worth noting that after updates Merge in the Ethereum blockchain, miners of this digital asset have several options for further activity. Some of them, while continuing to be interested in digital assets on Proof-of-Work, will choose to invest in bitcoin mining equipment and work in this direction, which will also contribute to the growth of the cryptocurrency’s number one hash rate.
At the same time in Blocksbridge noted that now successful bitcoin miners in a situation when its price has tested levels below 20 thousand dollars, began to more actively update its equipment fleet by switching to more productive models of miners.

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