Bitcoin (BTC) and in cryptocurrencies The decline experienced caused investors to move away from the market on the one hand, and also caused the miners to suspend their activities.
After a long decline in the market BTC Cryptocurrencies, especially cryptocurrencies, started to recover in July.
According to Bloomberg’s report, this recovery in crypto prices, despite the electricity woes continue. USAHe encouraged most miners to turn their devices back on.
In addition to the decline in prices, miners stopped their operations due to multiple factors such as the increase in electricity use due to hot weather and the rise in electricity prices.
In this context, published today blockchain According to network data, the mining difficulty rate has increased by 1.7% in the last two weeks.
Jaran Mellerud, crypto mining analyst at research firm Arcane Crypto, said:
“The Bitcoin price increase has resulted in increased mining revenues. Some miners who were offline in June and July probably turned their devices back on.”
bitcoin Miners mostly operate in the states of Texas and Georgia, where there are no strict rules and they can use low-priced electricity.
However, miners in Texas had to stop some of their activities due to the hot weather.
One of them is the world’s largest bitcoin One of the miners, Riot Blockchain. Riot said in a statement that it had to stop some operations to meet its high energy demand due to the hot weather in Texas.
In this context, the company has only 318 BTC He explained that it was able to produce 28% less than in July of last year.