The mining difficulty of Bitcoin (BTC), the average difficulty level for the operation of a block on the network, climbed to a new summit of 134.7 Billions on Friday.
The difficulty of the network reached a previous record level in August and increased regularly throughout the month, despite the projections that the difficulty of the network would decrease.
The Bitcoin hashrate, the average of the total number of hashs per second of all the minors on the network, fell to 967 billion in the second, down from the summit of more than 1 billion of hashs per second recorded on August 4, according to the cryptocurrency.
Higher difficulties have created more strict operating conditions for large mining companies in an already competitive industry that works on narrow beneficiary margins.
The need to spend ever greater IT resources to exploit blocks on the BTC network has also raised concerns concerning the centralization of Bitcoin exploitation, because the cost of mining is gradually becoming more expensive, leading to domination by large companies and mining pools.
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Solo minors still have hope in a sea of major institutional actors
Despite the great players more and more dominating the bitcoin extraction space, small solo minors still successfully exploit the blocks on occasion, and claiming the block reward of 3.125 BTC valued at more than $ 344,000 at the time of writing the present.
Three solo minors challenged the chances by successfully adding blocks to the BTC Ledger and by demanding the block award in July and August.
https://www.youtube.com/watch?v=xkvojawp68888
The first minor added the 903,883 block on July 3, reporting a little less than $ 350,000 as a block rewards plus priority paid by the minors to the minors to ensure that their transactions are included in the block.
The second solo minor added the 907,283 block on July 26, claiming more than $ 373,000 in awards, when calculated using Bitcoin prices at the time.
On August 17, another block of minor solo 910,440, which reached $ 373,000 of grant and network fees. The three minors operated via the Solo CK swimming pool, a solo operating swimming pool service.
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