On the flip side, mining difficulty, which is a variable gauge that automatically adjusts under the Bitcoin blockchain’s code to keep the network running smoothly, is also predicted to be higher in the fourth quarter by Luxor. “We will continue to see successive upward difficulty adjustments, though none will be as drastic as the largest positive adjustments we experienced in Q2 and Q3,” the report said. A higher difficulty is usually an earnings headwind for the miners as new bitcoin becomes harder to find for the mining rigs.
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