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Bitcoin Network Difficulty Raised to 26.64T, How to Reduce Mining Costs?

The data showed a 9.32 percent increase in difficulty on the bitcoin network and a record high of 26.64 T, breaking the previous record set on May 13, 2021. The difficulty of Bitcoin mining is automatically adjusted according to the hash power or hash rate on the network. Adjustments are made every 2,016 blocks produced for approximately two weeks, maintaining an average block time of 10 minutes, with the higher hash power, comes higher difficulty, and vice versa.

With the restoration of the network in Kazakhstan, the hash power of Bitcoin mining across the whole network has exceeded 200EH/s recently. It is widely expected that in 2022, the total hash power of the whole network will reach 300 EH/s. Hash power is growing, leading to the difficulty of the bitcoin network continuing to hit a record high. In the great difficulty of mining, how to minimize the mining costs? The answer is quite simple, is to develop your mining to a larger scale and professionalization.

With the growing number of miners involved in bitcoin mining, the profits available to solo miners mining from home have become so low that electricity bills alone could account for more than half of bitcoin mining output. While the professional mining platforms, can invest in the construction of their own mines, and cooperate with manufacturers, getting lower bitcoin mining machine prices and cheaper electricity, having a significant advantage in the mining layout.

For example, the world’s leading mining integrated service platform, Rock Hash, began to layout the mine in 2017, has invested in a total of 8 large mines, throughout Canada, the United States, Norway, Iceland, Kazakhstan, Singapore, Russia, Hong Kong, and other places, managing mining machine of 100,000 units, to provide users with more cost-effective service. Not only that, Rock Hash has a professional mine operation and maintenance team that can monitor and maintain the mine machines 24-hour, providing strong protection for the miners’ profits.

If you want to participate in bitcoin mining, but with a relatively low investment amount, you can choose Rock Hash for cloud mining. The purchasing threshold is as low as dozens of dollars. Rock Hash has launched cloud mining products in BTC, ETH, FIL, and other currencies, a variety of product cycles to choose from, the lowest hash power purchase volume being as low as 1T. Miners who want to participate in Bitcoin mining do not need to buy their own machines, only need to purchase cloud hash power on the Rock Hash platform to participate in bitcoin mining with a low threshold, and on Rock Hash, the cloud hash power products do not need electricity charge, which can help miners minimize mining costs.

If you are looking to know more about Bitcoin mining, you can contact customer service on the Rock Hash official website for the latest platform information.

Adriaan Brits

Adriaan Brits is a multi-sector analyst and business consultant with notable commentary on the S&P500. He loves to evaluate fast-movers and to be ahead of the trend.

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Adriaan Brits

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