Bitcoin mining difficulty is lowered again, report shows that listed Bitcoin mining companies will expand in 2022

Time:2022-03-24 Source: 1328 views Mining Copy share

According to the latest data, the Bitcoin mining difficulty was lowered by 0.35% to 27.45T. Since March 4th, the Bitcoin mining difficulty has been lowered twice in a row. Previously, Bitcoin had four consecutive reductions in mining difficulty from May to July 2021, a drop of 35%, and only one reduction on November 28, 2021.

The difficulty adjustment of Bitcoin mining is to ensure that the Bitcoin network develops according to a preset plan. The Bitcoin network automatically adjusts its difficulty level after every 2016 blocks, with a time frame of approximately 2 weeks. As one difficulty period ends, another new difficulty period starts over after the difficulty adjustment, which is to ensure the time of mining new blocks as closely as possible to the 10-minute average.

Some bitcoin mining companies believe that this year is the "consolidation year of the bitcoin mining industry". Some bitcoin mining companies have also recently announced plans for mining operations and digital asset infrastructure construction. Some environmentally clean bitcoin mining facilities are under construction. The energy they use is more than 90% zero-carbon energy.

Furthermore, according to a Blockchain Data research report, publicly listed bitcoin miners are “constantly looking for expansion opportunities” as they “plan to increase hash rate at the fastest rate in 2022.” The latest data from the Cambridge Bitcoin Power Consumption Index shows that 44.95% of the global hash rate comes from North American miners. The figure is “likely to grow” as the target hash rate of publicly traded bitcoin miners is expected to increase significantly.

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