BTC mining profitability has reached its high since January

It has become easier to mine the first cryptocurrency, and its price has risen: miner activity has begun to recover

Bitcoin mining difficulty has fallen, while mining profitability has risen to the levels seen at the end of January. Against this backdrop, miner activity has rebounded to February levels—above 1,000 EH/s.

On April 17, the next Bitcoin mining difficulty adjustment took place. The figure decreased by 2.43% to 135.59 trillion, according to Cloverpool. This means that miners need to calculate an average of about 135 trillion hash functions to mine 3.125 new BTC (approximately $234,000 at the current rate of around $75,000).More details on RBC:https://www.rbc.ru/crypto/news/69e5e8e99a7947e02b2a1e16?from=copy

At the same time, the Bitcoin price has risen by 6% over the past month. This factor, along with the drop in difficulty, has positively impacted mining profitability.

On Saturday, April 18, the “hash price” rose above $36 per 1 Ph/s for the first time since January 31. On Monday, it is hovering around $35—the levels seen in early February.

The indicator reflects miners’ daily revenue per unit of hashrate and is expressed in U.S. dollars per petahash per second per day ($/PH/s/day). This is an average value that does not account for region-specific costs, but the metric still serves as an important benchmark.

Miner activity

The average global hash rate (the combined computing power of all devices actively mining Bitcoin) has risen, reaching 1,070 Eh/s (exahashes per second) over the past 24 hours. Throughout March, the figure fluctuated between 960 and 990 Eh/s.

Currently, the American pool Foundry USA contributes the most to the hash rate, accounting for 29.3%. It is followed by AntPool (18.6%), F2Pool (11.4%), ViaBTC (10.5%), and SpiderPool (about 7%).

Taking into account the addition of blocks to the Bitcoin network and the issuance of 3.125 BTC every 10 minutes, the daily Bitcoin mining output in this cycle amounts to approximately 450 BTC ($33.7 million at the current exchange rate). Thus, since the beginning of this year (over 110 days), miners have mined a total of approximately 49,500 BTC ($3.6 billion).

American miners are actively selling the coins they have mined. Experts believe this is a result of the AI boom: switching from cryptocurrency mining to AI-related computing has become a conscious shift toward a more profitable business for data center operators. Meanwhile, AntPool users, who are mainly located outside the U.S., have recently sharply increased their BTC holdings, analysts note.

*Trade $BTC on OKX, special bonuses from us: https://okx.com/join/w3lab