Negative adjustment in Bitcoin difficulty
Quick Take
Bitcoin difficulty has seen a downward adjustment of 3% today. Remarkably, this marks the ninth negative adjustment in difficulty over the last year.
Impacts of Texas Heatwave on Hash Rate
The recent negative trend in difficulty adjustments can be partly attributed to the intense summer heatwave experienced in Texas. This weather phenomenon has significantly affected the operations of local Bitcoin miners, leading to a noteworthy decline in hash rate over the past couple of months.
Hash Rate Decline
Specifically, the hash rate has declined by more than 5% in both June and July. These declines coincide with the timing of four out of the nine negative adjustments in Bitcoin’s difficulty level this year, strongly suggesting the heatwave’s adverse impact on Bitcoin mining operations.
The content on this website comes from the Internet. Due to the inconvenience of proofreading the authenticity and accuracy of the copyright or content of some content, it may be temporarily impossible to confirm the authenticity and accuracy of the copyright or content. For copyright issues or other issues caused by this, please Call or email this site. It will be deleted or changed immediately after verification.
