- May 31 increased by 3.39%
- The current mining complexity is 51.23 trillion, hash rate 374.63 EH/s
- This is the second sharp increase this month
On Wednesday, May 31, there was an adjustment in mining complexity. The indicator reached a new ATH of 51.23 trillion. The next adjustment is expected on June 14, with a projected change of 0.19%.
This is the second major increase in complexity recently. The previous high was set on May 18, when the index “broke the ceiling” of 49 trillion.
The current value can be seen in the chart (Btc.com data):
As seen, there was a sharp jump from May 4 to 18. This can be explained by the increase in commissions in the network on the background of increased demand and supply of tokens based on the BRC-20 standard.</nbsp;
Together with the increase in demand, this leads to an increase in the number of participants in the mining market.. And, as a consequence, the complexity reaches record highs.
The increase in the index “will hit” the income of miners, because it significantly complicates the mining of the block.. However, as long as there are capacity problems in the Bitcoin network caused by Ordinals and BRC-20, we should not wait for the indicator to decrease.</nbsp;
There are several factors that can influence the trend movement. This is the next halving, which is expected in April 2024, a jump in hash rate on the local market and a plateau on the BTC price curve.