Network Difficulty Still Increasing In Bear Market

Mining
Written By Francisko Kim

The hashrate and mining difficulty of both Bitcoin and Ethereum’s networks are still increasing to new all time highs, despite the current market trends.
Bitcoin is down 28.79% and Ethereum is down 35% on the weekly.

Bitcoin

As seen in the mining stats above, Bitcoin’s network difficulty reached an all time high on May 10 (reaching 31.251 trillion). Meanwhile, the total network hashrate has slightly decreased from May 5th to the 9th and seems to now be increasing again. Miners revenue took a steep dive from the price drops experienced throughout the crypto and regular markets.

Ethererum

The Ethereum network hashrate and difficulty reached new all time highs on May 9th. Both are still on a steady rise when referring to the 3m+ charts. ETH miners are still trying to get as much from their rigs and setups before the upcoming merge to proof-of-stake.

Francisko Kim
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