Bitcoin Hashrate, Mining Difficulty Soar While Fees Sink: BlocksBridge
Despite Bitcoin receding from its peak value, blockchain operations have intensified, driving mining complexity to unprecedented levels.
The Bitcoin blockchain complexity currently registers at an all-time peak of 129 trillion. CoinWarz reports this signifies a 6.4% rise within the last three months.
This measure approached comparable heights in early June, when it initially surpassed 126 trillion. Enhanced complexity directly increases miners’ challenges in appending new blocks and securing incentives.
A modest reprieve may be imminent. The self-adjusting difficulty, reevaluated biweekly, is projected to decrease by 0.33% come Friday, August 22.
Presently, the record-setting complexity correlates with diminished cryptocurrency miner earnings, according to Nishant Sharma of BlocksBridge Consulting in his recent mining update.
He documented that hashprice—revenue generated per computational unit—has plunged to $60 per petahash per second. “This indicates persistent margin squeeze among miners, as escalating complexity counterbalances value increases,” Sharma noted.
Simultaneously, processing charges have dipped under 1% of block incentives for the inaugural instance. Miner proceeds derive from fixed block rewards (now 3.125 BTC per validated block) plus user-paid transaction costs.
“July witnessed fees constituting merely 0.985% of aggregate monthly block rewards—marking the first sub-1% occurrence,” Sharma stated.
The miner landscape faces additional pressure from U.S. President Donald Trump’s stringent import duties affecting nations exporting cryptocurrency mining hardware. Chinese imports now incur 57.6% tariffs, while Indonesia, Malaysia, and Thailand face 21.6% duties.
These levies have already impacted two American mining entities. Customs and Border Protection, overseeing tariff implementation, issued backdated invoices to Iris Energy and CleanSpark relating to 2024 hardware imports.
“CleanSpark cautioned that sustained CBP rulings might escalate its tariff obligations to $185 million,” Sharma indicated. “IREN confronts a parallel $100 million CBP dispute. Both corporations contest the agency’s assertions.”
Source: cryptonews.net
