Bitcoin Mining Difficulty Drops for Second Time in March

Bitcoin mining has declined for the second time this month thanks to the growing costs of energy. According to data from Glassnode, the bitcoin mining hash rate has dropped from an all-time high of 216 exahash/second in February to 216 EH/s on March 17 following a consistent rise since November.  

In a telegram message to Coindesk, Compass Mining founder and CEO Whitt Gibbs said, “This slight drop is likely due to unprofitable miners unplugging ASICs (application-specific integrated circuits). As energy prices increase globally, we will likely see more ASICs fall off the network." 

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