In the field of digital currency, Bitcoin has always been the focus of attention, and a recent important change has attracted widespread attention in the industry: the difficulty of Bitcoin mining has increased by 10%, setting a new record. This news came like a bomb that shocked the mining industry, and miners and investors from all walks of life were looking at it. At the same time, the advent of a new generation of mining machines has pushed the industry to a new height and redefined the pattern of Bitcoin mining. This article will explore in depth from multiple angles such as the difficulty of Bitcoin mining, the emergence of new mining machines, and the impact on the mining industry, to open a new chapter in the field of digital currency for you.

The difficulty of Bitcoin mining has always been one of the focuses of attention in the industry. With the continuous expansion of the Bitcoin market and the intensification of competition, the difficulty of Bitcoin mining is also rising. The recent 10% increase in mining difficulty has set a record high, making miners face greater challenges. This means that more computing power and time are required to mine a Bitcoin, which is difficult for traditional mining machines to meet this demand. Against this background, the emergence of a new generation of mining machines has become an inevitable choice.

The advent of new mining machines has brought new possibilities to Bitcoin mining. These mining machines have not only made a qualitative leap in computing power, but also made great breakthroughs in energy efficiency and stability. Taking the latest mining machine released by Bitmain as an example, its computing power and energy efficiency ratio have exceeded previous products by several times, greatly improving the efficiency and cost control ability of Bitcoin mining. This technological advancement has not only promoted the development of Bitcoin mining, but also injected new vitality and motivation into the entire digital currency field.

The rise of new mining machines is not only a technological advancement, but also a redefinition of the entire mining landscape. Traditional mining machines have gradually revealed their disadvantages in the face of a surge in mining difficulty, and the emergence of new mining machines has brought new hope and opportunities to the industry. Miners can improve their competitiveness through upgrading and achieve more efficient mining and returns. At the same time, the popularization of new mining machines will also drive the upgrading of the entire mining chain and promote the healthy development and long-term stability of the industry.

In general, the difficulty of Bitcoin mining has surged by 10%, setting a new high. The emergence of new mining machines has brought new opportunities and challenges to the entire mining industry. With the continuous advancement of technology and the continuous evolution of the market, the field of digital currency will usher in more changes and breakthroughs. The development of the mining industry is inseparable from technological innovation and market demand. Only by constantly adapting to changes and seizing opportunities can we remain invincible in the fierce competition. The future of Bitcoin is full of infinite possibilities. Let us wait and see and witness this magnificent evolution in the field of digital currency.

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According to BTC.com data, the difficulty of Bitcoin mining has increased by 10.26% in the latest block difficulty adjustment, the largest increase since October last year, which has also made the mining difficulty hit a new record high. The current difficulty is 37.59T.

It is understood that the difficulty of Bitcoin mining represents the difficulty of miners to produce the next block. It is adjusted every 2,016 blocks. The purpose is to maintain an average speed of 10 minutes to mine a block through computing power adjustment, which is carried out about every two weeks; in other words, the difficulty of mining can also reflect the degree of competition among miners. The higher the mining difficulty, the higher the competition.

The power shortage due to the snowstorm is alleviated, and the computing power continues to recover

It is worth noting that the Bitcoin computing power was hit by the snowstorm in the United States in late December, causing many Bitcoin mining companies to announce the suspension of operations one after another to avoid impacting the local power supply. At one time, the computing power of the entire Bitcoin network dropped from the weekly peak of 276EH/s to 170EH/s, a drop of more than 38%, the largest single-day drop since June.

The sharp drop in computing power also led to a short-term increase in mining profits during the current power shortage, which subsequently attracted a large amount of computing power to return, and even many mining machines in the blizzard area were restarted. In less than a day, Bitcoin computing power quickly recovered to the average computing power level of 230EH/s in the past seven days, and reached 361.20EH/s on the 6th of this month, setting a new record high, which is more than 4% higher than the record of 347.16EH/s set on November 12, 2022. Before the deadline, the average computing power of the entire Bitcoin network was 270.98EH/s.

Simply put, the short-term benefits of the blizzard have made mining companies more invested in the industry. Daniel Frumkin, research director of Bitcoin data analysis company Braiins, said that after the power shortage caused by the blizzard in some parts of the United States eased, Bitcoin mining companies have restarted mining operations and added new facilities to increase mining power. Among them, companies such as Marathon and Hive Blockchain are constantly deploying high-performance machines such as S19 XP and Buzz Miners. "This is a combination of institutional mining companies expanding their scale and some active layout over a long period of time, but due to the winter blizzard, we would not have seen any of this before, which means that we are now seeing about 3 weeks of deployment, not just one." According to the latest data update in December last year, Hive deployed 1,423 mining machines powered by Intel Blockscale, and Marathon said it will power 12,000 S19 XPs next month. Miners' profits may face further reduction

At the same time, the crypto market also rebounded last week, with Bitcoin breaking through $21,000, up about 24.8% in a single week, setting a new high after the FTX crash, which has also led to an increase in miners' profits recently. According to f2pool data, there are currently five types of mining machines that continue to make profits, calculated at $0.1 per kilowatt-hour, with the Ant S19
XP Hyd. model being the highest, with a daily net income of $5.

However, although the current income has increased significantly compared to last month, based on the S19 XP Hydro recommended retail price of 21,800USD, the payback period is still more than 10 years.

In addition, according to the latest report of about 25 mining companies recently compiled by Hashrate Index, their total debt amount by the end of 2022 has exceeded $4 billion, and data from Luxor
Technologies also shows that the value of the new generation of mining companies has fallen by 85%, once again highlighting that facing the new high mining difficulty, it is another huge test for mining operators to make a living.