Bitcoin hashrate and mining difficulty break new records while miners accumulate
By Hannah Pérez
Bitcoin’s mining difficulty rose almost 5% from its previous adjustment and the increase in hashrate suggests greater mining competition. Meanwhile, Bitcoin jumped in price and miners enter in cumulative phase. Alcista signal?
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- Mine a bitcoin is now more difficult than ever, with the metric at 136.04t.
- Bitcoin hashrate reached 1,1217 zh/s, which suggests greater competition in the industry.
- Meanwhile, the price jumped to USD $ 116,000 and the miners are not interested in selling.
- Institutions buy, miners accumulate and the supply suffers a squeery. Alcista signal?
The mining and hashrate difficulty of Bitcointwo fundamental metrics of that network Blockchain, They have reached unprecedented new maximums as miners enter a cumulative phase.
The one that measures aspects of the computational power necessary to validate transactions and create new blocks, have recently conquered new historical maximums.
The hash rate of Bitcoinwhich is the measure of the total computational power of the network, reached 1,1217 Zettahas per second zh/s on September 10, according to data from Bitinfocharts. The difficulty of the network, a measure of how difficult it is for miners to find a new block in the network BLockchainalso reached a historical maximum of 136.04t.
Reading this metric, which It means that undermine Bitcoin now it’s more difficult than everit rose almost 5% since the last adjustment on August 22, which had marked the figure in 129.7 t, according to data from Mempool.space.
Undermine a bitcoin is more difficult than ever
The mining difficulty is a relative measure that measures how difficult it is to find the hash of the block; that is, how hard it is to extract a block from Bitcoin. The network automatically adjusts every 2,016 blocks (approximately every two weeks) to ensure that the average time between each block is maintained in 10 minutes, independent of the amount of miners in the network.
As for the hashrate or hash rate, the metric refers to the amount of computing power used by the miners of the combined network globally to coin new Bitcoins and verify the transactions. A rate of hash higher means greater competition among miners to validate new blocks. It also means that the network is stronger and more safe, making it difficult for a 51%attack.
While a mining difficulty means higher pressure on miners as the industry becomes more fierce, a higher hash rate suggests greater competition. More miners are connecting to the network, which ultimately is a positive sign that suggests confidence among ecosystem participants Bitcoin.
Varun Satyam, co -founder of the platform Defi Davos Protocolhe explained that these broad adjustments usually lead to that “The smallest or inefficient miners reduce their scale, while the largest and most efficient operators maintain or even accumulate, position themselves so that the rally recovers their capital spending”
The flow returns to the Bitcoin market
The new hash and difficulty of the network occur at a time when the capital flow is returning to the market. The funds quoted in the stock market (ETF) of Bitcoin in cash in the USA. They saw net tickets for USD $ 637 million this week after departures last week. The entrance coincided with a rebound in the price of the cryptocurrency.
Bitcoin It resumed a price of USD $ 116,000 amid an increase of 4.7% in the week. The cryptocurrency market had seen a reverse last week in the midst of macro uncertainty. But now, with the expectations that the Federal Reserve (FED) announce a cut of interest rates next week, a greater recovery in prices is expected.
Miners enter cumulative phase
In parallel to this activity, the chain data suggests that the miners of Bitcoin They are entering a new cumulative phase, which could reflect a broader feeling of confidence in a price rebound among market participants.
The miners have been accumulating BTC for the third consecutive week, he noticed Cointelegraphwith the peak of incoming net flows to miners’ wallets reaching 573 BTC per day on September 9, the highest level since the end of October 2023.
MPI reading (which measures the BTC outputs of miners to Exchange Relative to its average one year), it seems to confirm this since it is at low levels, according to data from Cryptoquant, indicating accumulation instead of sales. A high MPI indicates sales pressure; One low, like the current one, suggests confidence in higher prices in the future, reflecting a long -term structural change.
In September, approximately 13,500 BTC are expected to be globally undermined, but institutional demand –primarily between ETF and companies with cryptocurrency treasures– far exceed this offer, creating a kind of “supply squeeze “. With the miners now leaning towards the demand side, an impulse seems very possible to Bitcoin.
Several analysts agree that the cryptocurrency market could resume the rally towards the third quarter of the year, –historically bullish– especially if macro developments are positive. Investors have their eyes on the Fed meeting of September 16-17 as a decisive event that will determine the direction of the price of Bitcoin.
BTC is priced at USD $ 116,066 at the time of writing these lines, almost 1% higher in 24 hours, according to data from Coingcko. The following difficulty adjustment, according to Coinwarzis scheduled for September 18.
Article written with the help of AI, edited by Diariobitcoin
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