November 29, 2023

Bitcoin mining difficulty could jump sharply on March 10

Due to the expected recovery in the supply of mining equipment, the difficulty of mining bitcoin maygrow soon. It is reported by The Block.

Mining difficulty is adjusted every twoweeks, calculating the power needed to search for a new block. The next difficulty calculation is due on March 10th. For the first time in 2020, complexity decreased slightly against the outbreak of coronavirus on February 25th.

The quarantine measures taken by China led to delays in supplies and the closure of some mining centers, but most of them still continued to work, industry officials said.

In mid-February, the Chinese government eased quarantine measures to stimulate the economy. Miner producers Canaan and Bitmain partially resumed equipment supplies.

“We returned to work as soon as the municipal government of Shenzhen agreed to this. There were no delays ”, - said an employee of Bitmain.

After government concessions, minersreceived new equipment, which will soon be installed and launched. According to experts, this should lead to an increase in the complexity of bitcoin mining in the near future.

Recall, recently, the bitcoin hash has updated its historical maximum. Read also about the outbreak of coronavirus and its impact on mining in China and the bitcoin industry.