10% Bitcoin Mining Difficulty Adjustment

By Teodor | NomadBase | 25 Mar 2020


Bitcoin suffered some decline over the past weeks amid the financial turmoil and spreading of corona virus.

As a result, the decreasing prices probably have forced miners to stop or reduce mining, in order to reduce costs. 

But, the good news is that 10% adjustment of Bitcoin mining difficulty is scheduled for March 25th and it should offset the decreasing profitability, according to BTC.com

This is one of the biggest difficulty adjustments for BTC. 

One of the best qualities of the Bitcoin network I like very much is its ability to be sustainable. Despite economic hardships that may cause reductions in the price of Bitcoin, the network is designed to adapt to the changing conditions. 

A 10% reduction in the mining difficulty means that it would be easier for miners to complete their work and get rewarded. 

The profitability will grow and miners will be motivated to continue. This might be seen in possible increase of Bitcoin's price. We'll see what is coming up next days.

Reference: m.btc.com/stats/diff

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Teodor
Teodor

Strong Family man and Christian believer, entrepreneur involved in AI, Web3.0 apps development and in crypto investment.


NomadBase
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