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When it comes to Halving, Bitcoin is getting harder and harder?

By HMP | Blogger PH | 6 May 2020

When it comes to bitcoin mining, we have two metrics to assess the level of bitcoin mining: hashrate and difficulty. Noting that these two figures are rising sharply today, which makes the difficulty of mining more and more high, meaning that we will exploit bitcoin less and less while coming halving.

  • Hashrate

In particular, Bitcoin's Hashrate has increased to more than 116 million TH / s compared to about 95 million TH / s at the end of March.

  • "Bitcoin's hashrate is increasing in proportion to the price increase of bitcoin," said Thomas Heller, global business manager at F2Pool.

Another reason the hashrate has risen is that so many miners have so far not re-launched bitcoin mining, many bitcoin mining companies are pushing bitcoin mining productivity in the hope that when Halving happens the bitcoin price will increase. , thereby they will make a profit.

Heller also noted an interesting fact that electricity prices have become cheaper in China and that the country is nearing the rainy season, so he predicts more Bitcoin mining facilities will join the network soon.

Heller believes bitcoin's hashrate will continue to rise sharply over the next few days as the event of BTC's halving of block rewards is approaching.

Investors Alejandro De La Torre also hopes bitcoin's hashrate will reach a record high in the coming days because this is the miner's last chance to receive a 12.5 BTC reward before halving.

  • Difficulty level for digging
    Difficulty - or difficulty in mining, a competitive index among bitcoin miners, hit a high of 6.10 (trillion) today, compared with its all-time high of 16.55 (trillion). ) was recorded in March.

This shows that there are many BTC miners who participated in the race before Halving, which will see mining rewards per block decrease from 12.5 BTC to 6.25 BTC.

The halving of the block rewards is expected to occur next week on May 12.

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