Pago de 69 millones de dólares de los mineros de Bitcoin: ¿Auge antes del halving de abril?

• The increase in hash rate came in response to the difficulty of mining reaching an ATH.
• The income earned by miners on April 11 was close to $69 million, a year-on-year increase of 70%.

Bitcoins [BTC] hash rate hit a new all-time high (ATH) on April 11 as miners pushed their machines to full power to increase revenue ahead of the halving.

The 7-day moving average of the hash rate, used to measure the total computing power invested by miners, reached 642 exahashes per second (EH/s) on April 11, according to Hashrate Index, representing a 5% increase. % during the week.

Miners find it difficult to mine blocks

The increase in hash rate came as a likely response to the latest adjustment that brought Bitcoin’s mining difficulty to its ATH of 86.39 trillion.

Bitcoin mining difficulty reflects how difficult it is for miners to find the next Bitcoin block in the chain. It is adjusted every 2,016 blocks, or approximately two weeks, to ensure that block production time remains at 10 minutes. The higher the difficulty, the harder it is to find a block and therefore the more hash rate will need to be dedicated.

This was the last adjustment before the pivotal halving event, tentatively scheduled for April 20, which would cut mining rewards in half. In an industry with shrinking profit margins, these developments end up putting considerable financial strain on participants.

What to expect after the halving?

Hash Rate Index had previously estimated that halving would result in a 3.7% drop in hash rate, conservative compared to Galaxy Digital’s estimate of a 15-20% decline.

Typically, smaller players with less capital to afford efficient mining equipment could be the first to capitulate.

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After struggling during the bear market, miners’ profits have increased sharply since BTC began increasing in value in October 2023.

Total revenue earned by miners on April 11 was close to $69 million, according to AMBCrypto’s analysis of Glassnode data, up 70% from the same time last year.