Bitcoin Hashrate Breaks Record, Mining Revenue Plunges

Bitcoin’s network has hit a new record high in processing power, surpassing the 1 zettahash/s threshold. This represents a major milestone for the blockchain’s technical capacity, demonstrating significant growth since its inception. The impressive increase reflects substantial investment in infrastructure and energy. However, despite this technological advancement, miners are experiencing declining revenues. The difficulty adjustment recently rose by 7%, further challenging mining operations. This move has resulted in record-high network difficulty (121.5 trillion), increasing competition. However, the impact on miner earnings has been minimal, with daily earnings plummeting to $42.40 per terahash – one of the lowest on record. Low transaction fees and stagnant Bitcoin prices are cited as primary contributors to this revenue decline. Expert analysis suggests that long-term indicators, like the 7-day moving average, offer a more reliable view of market trends. While short-term fluctuations are inevitable, caution is advised when interpreting real-time data.