April 23, 2024

Bitcoin mining difficulty sets new all-time high

Bitcoin mining difficulty sets new all-time high

Today, mining difficulty has increased by 9%, setting a new record.

As you can see in the graph below, the hashrateBitcoin has fully recovered after a sharp fall in the summer, when Chinese authorities began to close all farms. 

Bitcoin mining difficulty sets new all-time high

Since then, both the hashrate and the difficulty of mining have gradually grown. The US has become the new hashrate leader in the world. On January 8 this year, the difficulty increased by 0.41%, and today by as much as 9.32%.

Bitcoin mining difficulty is being reconfiguredevery 2016 blocks or approximately every two weeks. This mechanism is designed to keep the average block rate at 1 block per 10 minutes as the hashrate rises and falls.

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Based on materialswww.theblockcrypto.com