Bitcoin mining difficulty is expected to increase by 5.68% on October 16, potentially leading to electricity cost losses for some mining rigs.
Bitcoin mining difficulty is expected to increase by 5.68% around October 16, according to CryptoSlate, which will put pressure on miners with thin electricity cost buffers. If Bitcoin price, block rewards, and average transaction fees remain unchanged, the expected revenue per unit of hashrate will decrease by 5.37%. For a miner consuming 20 joules per terahash with an electricity cost of 8 cents per kilowatt-hour, the daily electricity cost per PH/s is $38.40. After the difficulty adjustment, its profit margin of $1.37 at a hash price of $39.77/PH/day on October 14 will turn into an electricity loss of approximately $0.77.
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