The mining difficulty of Bitcoin (BTC), the average level of difficulty to extract a block on the network, rose to a new historical maximum of 134.7 billion on Friday.
The difficulty of the network reached a previous maximum of all time in August and increased constantly throughout the month, despite the projections that the difficulty of the network would decrease.
Bitcoin hashrate, the average of the total number of hashes per second of all miners in the network, has fallen to 967 billion hashes per second, below the historical maximum of more than 1 billion hashes per second recorded on August 4, according to Cryptoquant.
A higher difficulty has created more strict operational conditions for large mining companies in an already competitive industry that is executed in narrow gain margins.
The need to spend increasing computer resources to mines blocks on the BTC network has also generated concerns about the centralization of Bitcoins mining, since the cost of mining becomes progressively more expensive, which leads to the domination of large corporations and mining groups.
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Solo miners still have hope in a sea of great institutional players
Although the great players increasingly dominate the Bitcoin mining space, small and solo miners are still successfully mining the blocks sometimes, and claiming the reward of the 3125 BTC block valued at more than $ 344,000 at the time of writing this.
Three solo miners challenged the probabilities by successfully adding blocks to BTC’s major book and claiming the reward of the block in July and August.
https://www.youtube.com/watch?v=xkvojawp688
The first miner added block 903,883 on July 3, a network of just under $ 350,000 in block subsidy rewards more priority rates paid by the participants of the network to the miners to ensure that their transactions are included in the block.
The second solo miner added block 907,283 on July 26, claiming more than $ 373,000 in rewards, when calculated using Bitcoin prices at that time.
On August 17, another solo miner extracted block 910,440, obtaining $ 373,000 in block subsidies and network rates. The three miners operated through the pool only CK, a solo mining pool service.
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