Cloud Mining News & Reviews

Bitcoin Mining Difficulty Remains Strong Despite Low Price at $218!

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Many cloud mining companies have closed services (including some potential scams) in December 2014 and January 2015 due to the decrease in Bitcoin value.

Currently, Bitcoin price stands art $218.74 as of this writing.  It looks like the downward trend for Bitcoin has not yet ended.

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Yet, despite these low prices, Bitcoin mining difficulty has not ceased to drop.  Most recent mining difficulty is at 44,455,415,962 as of February 9th 2015, and the total Network Hash Rate stands at 318,224,263 GH/s, which is the highest it has ever been.

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Lower Bitcoin prices were anticipated to bring the total Network Hash Rate down, as Bitcoin mining operations are said to have become unprofitable when Bitcoin value fell below $300.

It must be that some mining companies, especially those with adequate capital at hand, are mining despite immediate loss in dollar terms.

It could also mean that some miners have managed to keep on top of the Bitcoin mining arms race and have successfully kept a lead over competitors in the latest mining gear development and operational efficiency.

Higher mining difficulty implies strong interest in Bitcoin despite the current low price levels, and it is reassuring to see strong support and interest after over one year of continuous price decline.

 

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