Thursday's development follows a 6% fall, which took place on May 20. That particular difficulty reduction was the first to occur after the bitcoin block reward halving, which saw the per-block subsidy drop from 12.5 BTC per block to 6.25.
As The Block's Celia Wan previously reported, the post-halving environment presents challenges for some miners, especially those that are overleveraged or rely chiefly on inefficient equipment. A difficulty reduction is a signal that miners have left the network, suggesting that the expected exit for some poorly-performing is taking place.
In this example historical case study, Bitcoin mining with Blockware Solutions was a potential way to accelerate the returns of investing in Bitcoin in 2021. All data in this case study was sourced publicly from The Hash Rate Index (historical rig prices) and Glassnode (Bitcoin price and network difficulty).
Eric Adams, the mayor of New York City, made good on a previous pledge by receiving via automatic conversion his first paycheck in the form of cryptocurrency. According to a Thursday morning statement from the mayor’s office, Adams’ paycheck was converted into BTC and ETH. “New York is the center of the world, and we […]