On July 5, Bitcoin mining difficulty dropped to a quarterly low of 79.50 terahashes (more than 5%). This marks the biggest drop since the difficulty briefly dipped below 80T in March.

There was an increase in difficulty between March and May, reaching an all-time high of 88.10T before slowly starting to decline.

Bitcoin mining difficulty is a measure of hashrate that measures how many guesses a mining machine must make before solving the cryptographic puzzle required to unlock one of the remaining bitcoins.

Hashrates are updated every 2,016 blocks – this takes approximately two weeks. Throughout Bitcoin's lifetime, hashrates have generally grown month over month.

In 2014, for example, hashrates were measured at approximately 1.1 gigahash. This was low enough that most desktop PCs could mine Bitcoin.

At the end of 2017, as adoption began to increase, hashrates reached terahash for the first time. And as of July 6, 2024, they remain at 79.5T until the next difficulty update.

Under the current 79.5T difficulty metric, mining pool F2Pool predicts that an ASIC device with an efficiency ratio of 26 or better (lower) terahashes per watt will be profitable as long as the price of Bitcoin does not fall below $54,000.

If the price of Bitcoin falls further, miners will need more efficient devices to remain profitable. If they remain the same, conditions should be acceptable for the largest miners, especially those where there are energy subsidies for mining facilities. We are waiting your comments.#Bitcoin#Blockchain #Mining