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Bitcoin miners are preparing for another difficulty adjustment this week as the amount of computing power needed to mine new coins reaches its highest level ever.

The next mining difficulty adjustment is expected to take place on Friday, March 10, raising the difficulty level from 43.05T to 44.46T, according to CoinWarz, a provider of cryptocurrency mining data. The expected increase in difficulty will make mining new bitcoins a record high. Although difficulty levels have continued to rise since the second half of 2022, we are already at record high levels. The Hashrate continues to rise An increase in the difficulty level of bitcoin mining is usually accompanied by an increase in the network's hashrate -- the amount of computing power around the world dedicated to bitcoin mining. As the hash rate goes up, so does the difficulty to ensure that the blockchain maintains an average of 10 minutes between each block mined.

Since June 2021, the hash rate of the Bitcoin network has been increasing. It first crossed the 300 EH/s mark in late January this year, and then hit another record high near 400 EH/s in late February. As recently as March 2, the hashing rate was again near its all-time high, at 385 EH/s, according to CoinWarz.

The rise in hashing rates is seen as a sign of adoption and increases the security and resilience of the Bitcoin network against various forms of attack. For this reason, Bitcoin is considered the most secure cryptocurrency on the market right now. A struggling miner As a direct result of the increased difficulty, miners' margins are bound to be squeezed even more. Not surprisingly, after a bear market that has lasted more than a year, that could be difficult for many of the biggest mining companies.

Earlier this month, Riot Blockchain, a major publicly traded bitcoin miner, reported earnings that showed it lost more than $5 billion on its 2022 mining business. That loss was much larger than the $15.4 million the company reported for 2021, despite the fact that it produced more bitcoins in 2022.

It remains to be seen how Riot and other major mining companies will cope with the continued rise in bitcoin mining difficulty this year, unless the spot price starts to rise in a meaningful way.https://www.pe58.com/#/index

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