BTCs are snapping up like hotcakes! With the election of Donald Trump as 47e president of the United States this November 6, 2024, the sector of mining – like many other crypto sectors – is jubilant. But even before the results of the US presidential elections were announced yesterday, the network Bitcoin (BTC) recorded a new record history on its difficulty mining. A sign that the competition is tough between crypto miners to obtain the precious bitcoins.
The difficulty of mining on Bitcoin exceeds the symbolic 100 Teras
With the return of Donald Trump At the White House, the cryptocurrency market exploded higher. Bitcoin in particular began its bull run by surpassing its previous all-time highs (ATH), since the king of cryptos has risen beyond 75 000 dollars.
And the good health of the blockchain network completes this idyllic picture. Indeed, a few days ago, it was the computing power – the hashrate – on Bitcoin which broke records, exceeding 770 EH/s.
This time, it is therefore difficulty mining on the BTC network which reaches a new historic high. Which is logical, since this adjusts upwards with the hashrate when it rises. However, with approximately 2 weeks offset (all 2016 blocs transactions to be precise). His new record is now almost 102 T (terrace).
The cost of producing BTC is exploding, but crypto miners always want more!
This mining difficulty had briefly dropped for a few months, after the 4the halving of the Bitcoin networkwhich occurred at the end of April 2024. It must be said that with a block reward divided by two, passing from 6.25 to 3.125 BTCmany minors had to throw in the towel – because it is no longer sufficiently profitable.
Decreases in the hash rate, then in the difficulty, therefore followed on the 4the halving. But only at first, because since the end of Julythese two metrics of BTC network health have started to rise sharplyuntil reaching their recent ATH.
With such competition, even crypto mining companies listed on the stock exchange (so logically the most efficient), would have a production cost of $49,500 per bitcoin. And again, if we include all the investments and costs, the bill would rather be 96 100 dollars by bitcoin. That is more than the current price of the leader in crypto-assets!
But yet, this does not prevent for a single second the crypto-miners who survived the halving last April continue to invest and fight to try to produce more and more bitcoins. It must be said that most of them, as has been clearly stated CleanSpark, estimates that Bitcoin could reach $200,000 in 2025. Mining BTC for less than $100,000 would therefore be a good deal in the medium/long term.
