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After halving, the mining difficulty of Litecoin (LTC) fell by 28%

Litecoin upsurges to achieve a six-month record high

According to network data, many lightcoin miners turned off their devices after a recent halving.

According to the BTC.com mining pool, the difficulty of mining lightcoins decreased from 15.93 million (on August 4 – the day before halving) to 11.4 million (on August 22). Network hash rate also fell by 28%.

The difficulty of mining a lightcoin automatically changes every 2,016 blocks (approximately every 4 days) to ensure that the interval for creating blocks based on the average hash rate remains about 2.5 minutes.

A 28% drop in difficulty means that the current level is the lowest since April 29th. According to BTC.com , on the next adjustment date, which should happen in three days, the difficulty will decrease by another 4%.

The average hash rate in the lightcoin network since August 4 has decreased from 456 TH / s to 326 TH / s as of August 22.

Currently, miners connected to the Poolin mining pool account for 23% of the total computing power of the network, followed by miners connected to the f2pool and Bitmain Antpool pools.

The decrease in interest in mining is not surprising, since halving reduced the block reward from 25 LTC to 12.5 LTC, as a result of which the existing mining equipment significantly reduced the level of profitability.

F2pool data shows that the most profitable lightcoin miners created by InnoSilicon and FusionSilicon now have a profitability of 10% to 20%, as the price of LTC fell from $ 93 to $ 74.

The estimated cost of electricity was taken from the calculation of 0.04 dollars per kWh and these models bring daily profits from 0.2 to 0.5 dollars. At the current price of lightcoin, old mining equipment, such as Antminer L3 and L3 + from Bitmain, will bring insignificant profit – a little more than $ 0.01 per day.


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