Bitcoin miners earn 14.2 percent less per exahash as difficulty hits a record

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.Analysis: Since September 19, the Bitcoin network has demanded 11.8 percent more computing work per block, while the price has fallen over the same period. What this gap means for the coming weeks, and which level below the price actually holds.Add as a preferred source on GoogleFollow on Google NewsWhat is established: mining difficulty on the Bitcoin network has stood at 148.4 trillion since October 29, the highest on record. Over three adjustments since September 19 it has risen 11.8 percent, while bitcoin traded at $77,657 on Monday afternoon, 4.4 percent below its level on September 19. Our assessment follows further down: the miners' higher costs are no floor under the price, but they are a reason for continued selling pressure from this group. Anyone looking at the chart today sees a quiet week: $77,511 as the daily low, $78,740 as the daily high, down 0.7 percent from Monday's close. Behind this calm sits a mechanism that rarely features in market commentary and that mat...