5.5 percent more difficulty from Friday: Bitcoin miners face the year's third-largest step up

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.On October 16 the Bitcoin network raises mining difficulty by 5.49 percent, the third-largest increase of the year. What that means for miners' costs, for the levels around $81,000 and for your purchase fees.On Friday, October 16, the Bitcoin network will make itself more expensive. At around 14:00 UTC the blockchain reaches height 971,712, and the next mining difficulty adjustment takes effect. On Tuesday afternoon's reading, it comes out at 5.49 percent to the upside. That is the third-largest increase of this year, and it hits an industry whose product trades 33.8 percent below its record of $126,080. This is not a technical footnote for investors. Difficulty determines how much computation a new Bitcoin costs, and with it the floor below which a miner would rather sell its coins than hold them. This article works through how much more expensive production becomes on Friday, which levels the price has behind it, and what you can check before the date. 132.72 trillion: what mi...