Bitcoin mining difficulty hits all-time high
Ethereum Blob Fees Soar, Binance's Market Share Declines, Institutions Hold $13B Of Bitcoin ETFs
Bitcoin mining difficulty has hit an all-time high of 95.67T, having jumped by 3.9% and coinciding with a record 700 EH/s hashrate.
This year, 22 mining difficulty adjustments occurred so far, 13 of them positive. YTD, there has been a 27% increase from 72T to 92T.
This is naturally resulting in more and more small private miners getting pushed out. Hashrate dropped by 15% after the halving after these participants started exiting and selling BTC.
Glassnode data shows that miners have sold prior to halving, likely so they could fund operations.
'Strong' miners are dominating more than ever, with public miners now having control over nearly 30%.
Increases in mining difficulty and miner revenue historically have signaled bull runs.
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