Bitcoin Mining Difficulty Rises for First Time in Two Months
The Bitcoin mining difficulty has registered an increase of 1.74% to 28.17T as a result of the latest recalculation.
Notably, the indicator has shown a positive trend for the first time since the beginning of June.
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Over the period of approximately two weeks since the previous recalculation, the average hashrate of the network has risen to 201.43 EH/s. According to Glassnode, the 7-day smoothed moving average has reached 197 EH/s, a level well below the June 11 peak of 231 EH/s.
The Bitcoin Mining Council released a report in July showing that, over the past year, mining energy efficiency increased by 46% and hashrate increased by 137%.
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In June, public mining companies sold a total of around 14,600 BTC, almost a quarter of their Bitcoin reserves.