Mining difficulty jumps almost 6 percent today: why Bitcoin miners have no cushion this time

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.Bitcoin network mining difficulty rises by almost 6 percent on Friday afternoon, the steepest step up since June. Because transaction fees carry only 0.65 percent of mining revenue, the cost jump hits miners without any cushion at all.The Bitcoin network recalibrates on Friday afternoon. Early in the afternoon, with block 971,712, mining difficulty rises by an estimated 5.9 percent. That is the steepest increase since June 27, and it follows a stretch in which practically nothing moved. The price stands at $82,298 on Friday morning, 1.3 percent above the previous day. For the price question of the coming days, what counts is less the figure itself than what it demands of the miners. The data-centre operators deliver the same block reward for more computing work, and right now they have no fee cushion to absorb it. Where the price can point over a horizon of months is set out in our Bitcoin price prediction. What block 971,712 changes in the Bitcoin network today Every 2,016 bloc...