@Benerci 1 September 2022 more from that month

Bitcoin Mining Difficulty Spikes as Profitability Drops for Mining Companies Some say higher mining difficulty is a good sign for the network. Bitcoin mining is the process of using powerful computers to verify transactions on the blockchain. Mining companies, which are usually large operations that utilize server farms and use a lot of energy, are rewarded with newly minted Bitcoin. Last month, miners in Texas suspended operations to help the energy grid and conserve energy during a heatwave—a move that likely made Bitcoin easier to mine. They switched on again weeks later, and now as difficulty increases, miners could face slimmer profits as more computing power (and energy) is needed but the value of Bitcoin has remained stagnant. Bitcoin at the time of writing was trading for $20,205, according to CoinGecko data. It has struggled to break past the $25,000 mark for months—and it is more than 70% down from the all-time high of $69,044 it touched in November. #bitcoin #mining