Bitcoin mining difficulty dropped by 7% over the last recalculation

The complexity of bitcoin mining at the last recalculation fell by 7%, this decrease was the largest in 2019. The last time a similar drop occurred was in December 2018.
As noted
on Twitter, cryptocurrency entrepreneur Alistair Milne, after another recalculation of the complexity, which occurs every 2016 blocks, the complexity of bitcoin mining decreased by 7%. The complexity conversion mechanism acts as a stabilizer of the Bitcoin network, ensuring its security, even when the price or network activity is significantly reduced.

After last year’s low in bitcoin mining difficulty of 5,646403,851 53 in December
In 2018, when the cryptocurrency was trading at $3,100, the difficulty gradually increased
during 2019. As Milne noted, it seems that now “the cost of mining on average fluctuates around $8000.”

At the same time, the Bitcoin hashrate resumed growth on Monday – this indicator once again rose above 100 hash per second.

Mining companies in General remain optimistic about the future profitability of the sector. Recently, the world’s second-largest manufacturer of mining devices Canaan Creative said that it received about $13 million in net profit for the third quarter of 2019 due to the increase in the price of bitcoin.

Canaan also officially filed for an IPO in the United States last month, marking the company’s third attempt at a public offering after two previous bids filed in China and Hong Kong were rejected. Bitmain, meanwhile, continues to increase capacity. Last month, the company launched
mining center in Texas with a capacity of 50 MW.