Now is the most difficult time to mine Bitcoin

Bitcoin June 27th News As a core indicator for assessing the difficulty of obtaining mining rewards, the difficulty of Bitcoin mining has reached 7.93 T as the price soared, also setting a new high since October 2018.
Bitcoin generally adjusts the mining difficulty every 2016 blocks (about 14 days) based on the total network computing power to ensure that the block production interval can be maintained at about 10 minutes. The smaller the network computing power (i.e. the fewer the number of mining machines), the lower the mining difficulty will be, and the larger the network computing power (i.e. the more the number of mining machines), the higher the mining difficulty will be.
According to data from BTC.com, the average Bitcoin mining power in the past 24 hours reached 59.58 EH/s, the average mining power in 3 days was 59.70 EH/s, and the average Bitcoin network computing power on the 14th reached 56.77 EH/s, which means that more and more miners are starting to mine.
In addition, data from Blockchain.info also shows that as of June 22, the total computing power of the Bitcoin network reached 66 EH/s, which not only exceeded last year's highest record of 61.86 EH/s, but also more than doubled the total computing power of 31 EH/s during the bear market at the end of last year. If all of this new computing power comes from existing mining machines such as Antminer S9, it means that more than 2 million mining equipment have been deployed on the market in the past few months.
As market demand picks up, the price of second-hand mining machines in China has doubled. BTC.com estimates that Bitcoin mining difficulty is expected to increase by another 7% at the beginning of the next adjustment cycle and break through the 8T mark for the first time.
Domestic miners are eagerly awaiting the flood season
With the arrival of the flood season, Bitcoin mines in the southwest of China have deployed a large number of mining equipment.
According to a report released by blockchain research company Coinshare, as of the beginning of this month, half of the world's Bitcoin computing power comes from Sichuan Province in China. But the problem is that this year's situation seems to be different, because the rainy season is delayed by nearly a month compared with previous years, resulting in some mining farms running less than half of their mining equipment.
Xun Zheng, CEO of bitcoin mining company Hashage, revealed that the region has not seen any rainfall for more than 20 days since the beginning of May, saying:

"In the past few years, the southwest region of the country usually starts to have rain in May and lasts for more than a month, so the local hydropower stations usually have enough water resources before the beginning of June."

Hashage was operating only 40% of its mining machines in early June, but just two weeks ago, the rainy season finally arrived and Hashage's mining capacity climbed to more than 60%.
Many industry insiders estimate that the total Bitcoin network computing power will exceed 70EH/s in August this year, which means that if all mining equipment is Antminer S9 or similar equipment, at least 300,000 more mining equipment will need to be activated.
In addition, some new capital entrants are also looking forward to the arrival of the flood season as soon as possible. For example, Shanghai Blockchain Fund Fundamental Labs has previously invested 44 million US dollars to purchase top mining equipment, and they will also start mining in June.
Source: CoinDesk