Bitcoin Mining Record Despite Bear Market

Bitcoin may be in a bear market, but the mining industry is growing bigger than ever. Bitcoin mining difficulty set a new record for the sixth time this year on Tuesday, reaching 31.25 billion, according to mining data from Braiins. The 4.89% adjustment was the third largest increase this year.

Even though the price of the leading cryptocurrency has dropped sharply throughout April and May and continues to sit more than 50% below At its all-time high since the end of 2021, the growth of the mining industry is not slowing down. Traditional investors, retail buyers, and even day traders can be bearish on bitcoin, but miners are not. This article breaks down some of the data that demonstrates the growth of the mining sector despite the current bearish bitcoin market conditions.

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