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Ethereum Mining is Dead: Price Drops, Difficulty Booms

By Anthony Garreffa from Jul 11, 2017 @ 7:33 CDT

Difficulty Increase = Insane Last 72 Hours


The article I wrote came at the perfect time, but the last 72 hours has been an incredibly bumpy one. First, the difficulty of Ethereum mining has hit new highs... just take a look at this chart:




Here's the last month, you can see larger increases in difficulty between June 20-22, and then smaller bumps towards the end of June. But it was in the first ten days of July where the DAG increased in larger chunks before falling, and then you can see the ramp up towards the last 72 hours.





Starting on the night of July 2, the DAG increased in waves throughout the first week of July. You can see this on July 5/6/7/8/9 before the massive mountain-like increase on July 11 to 1.2T. It hasn't jumped by 20% before, but that increase put a major squeeze on small time miners, and even more so on the ones with just a handful of cards.

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