Bitcoin's difficulty cut came in bigger than forecast. The numbers:
• Difficulty: 148.36T to 134.82T, down 9.13% (mempool.space via PANews)
• Forecast two days earlier: about -7.85% (TokenPost)
• Biggest cut since June 14's -10.09%
• Hashrate: 906.93 EH/s vs 1,001.01 EH/s a week earlier (TokenPost)
• Blocks averaged 11 minutes, not 10 (BTC.network)
My read: machines are switching off because $BTC slid from about $80,750 to $67,100 since the Oct 29 adjustment (Coinbase, via Altcoin Reporter). The cut gives remaining miners roughly 10% more BTC per hash, which eases pressure but doesn't fix the price. Current estimate for the next one: about -6.65% around Nov 29 (Coinucation). If it holds, the exits aren't done. Not financial advice.
#Bitcoin #Mining
Disclosure: Write to Earn may pay me a commission on cashtag trades.
• Difficulty: 148.36T to 134.82T, down 9.13% (mempool.space via PANews)
• Forecast two days earlier: about -7.85% (TokenPost)
• Biggest cut since June 14's -10.09%
• Hashrate: 906.93 EH/s vs 1,001.01 EH/s a week earlier (TokenPost)
• Blocks averaged 11 minutes, not 10 (BTC.network)
My read: machines are switching off because $BTC slid from about $80,750 to $67,100 since the Oct 29 adjustment (Coinbase, via Altcoin Reporter). The cut gives remaining miners roughly 10% more BTC per hash, which eases pressure but doesn't fix the price. Current estimate for the next one: about -6.65% around Nov 29 (Coinucation). If it holds, the exits aren't done. Not financial advice.
#Bitcoin #Mining
Disclosure: Write to Earn may pay me a commission on cashtag trades.
