Share this article
Chasing Profit? Bitcoin Miners Swap Networks As Difficulty Swings
A change to bitcoin cash has provided further clues as to its evolving relationship with the bitcoin blockchain.
By Jimmy Song
Updated Sep 13, 2021, 6:51 a.m. Published Aug 23, 2017, 4:45 p.m.
Make us preferred on Google
Since bitcoin cash split from the bitcoin blockchain, miners have had a choice: which of two blockchains to mine?
At play in their considerations are two factors: ideology and profitability. But while it's possible some miners are choosing bitcoin or bitcoin cash based on preference, a certain contingent seem to be following the money.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
How do we know? At block 481,824 yesterday, the bitcoin cash blockchain saw a notable difficulty adjustment.
At the time, blocks were being found on bitcoin cash at a rate of about one 1-2 minutes, or less. As a result, the difficulty went up by 300%, the maximum allowed under the difficulty adjustment rules.
Both bitcoin and bitcoin cash adjust difficulty downward every 2,016 blocks, though in the case of bitcoin cash, the length of time this takes varies depending on how long it takes blocks to be discovered. If the previous 2,016 blocks took less than two weeks, difficulty goes up, if more than two weeks, difficulty goes down.
Changing the dynamic between the chains is that because of this unique rule and yesterday's change, bitcoin cash is now much less profitable to mine than bitcoin.
And miners seem to be responding, as a lot of mining hash power seems to have left bitcoin cash and moved to bitcoin. At its peak, bitcoin cash had 44% of all hash power compared to bitcoin's 56%.
As of this writing, BCH has about 26% compared to BTC's 74%, according to data from fork.lol, a data site that has sprung up to cover the narrative.
As of this writing, bitcoin is averaging slightly less than six blocks per hour over the last eight hours, while bitcoin cash is averaging a little over one block per hour in the same time period.
The next difficulty adjustment on either chain is expected to be when bitcoin hits block 481,824, on August 24.
Escalator image via Shutterstock
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Gold tops $5,000 as bitcoin stalls near $87,000 in widening macro-crypto split: Asia Morning Briefing
Bitcoin’s onchain data points to supply overhang and weak participation, while gold’s breakout is priced by markets as a durable macro regime shift.
What to know:
- Gold’s surge above $5,000 an ounce is increasingly seen as a durable regime shift, with investors treating the metal as a persistent hedge against geopolitical risk, central bank demand and a weaker dollar.
- Bitcoin is stuck near $87,000 in a low-conviction market, as on-chain data show older holders selling into rallies, newer buyers absorbing losses and a heavy supply overhang capping moves toward $100,000.
- Derivatives and prediction markets point to continued consolidation in bitcoin and sustained strength in gold, with thin futures volumes, subdued leverage and weak demand for higher-beta crypto assets like ether reinforcing the cautious tone.
Top Stories
