Despite the low price, Bitcoin’s hashrate remains elevated as difficulty taps an ATH
Over the last two difficulty adjustment algorithm (DAA) changes, the network’s difficulty has increased by 10.45% in four weeks’ time. With the difficulty at 31.25 trillion, it is the most difficult it has ever been to mine bitcoin (BTC).
In nine days, the DAA is expected to increase again by an estimated 0.72%. With the price down, BTC miners are seeing much smaller profits than two weeks ago.