Mining on the Bitcoin (BTC) blockchain has become more difficult than it has been in months, following an early morning update today.
The difficulty level, which is updated every 2,016 blocks based on the total throughput on the blockchain, has risen to over 19.8 trillion as of Tuesday morning.
Increasing the difficulty level for the sixth time in a row will increase the block production. like it hasn’t been since the first week of june made it difficult.
After the Chinese government began to pursue policies against the mining sector in mid-May, the difficulty level was within a month and a half time frame. From 21 trillion to 13.6 trillion had fallen.
Hash rate in this time period, which covers the end of May to the middle of July 150 EH/s over, below 100 EH/s landed.
China has stepped up its pressure on the crypto industry by declaring all crypto activity illegal last month.
The hash rate has increased since then, for the past two weeks. an average of 142.34 EH/s was measured.
Total revenue of bitcoin miners in September fell 6.9% compared to the previous month, according to data from The Block. $1.3 billion was at the level.
According to Glassnode data, miners’ daily income today is halving in 2020. compared to before It increased by 275%.