Bitcoin Mining Difficulty Hits All-Time High… Adjusted Up 3.6%

Bitcoin (BTC) mining difficulty has reached an all-time high.

According to foreign news reports on the 11th, Bitcoin mining difficulty on this day was adjusted up 3.6% from two weeks ago, reaching an all-time high of 92.67 trillion. This mining difficulty adjustment was made at a block height of 868,322.



Mining difficulty is the amount of computational power required by Bitcoin miners to find the hash value for creating a block. Mining difficulty is adjusted in proportion to the number of Bitcoin miners. The more miners there are, the higher the mining difficulty, and when mining competition eases, the difficulty is lowered to make it easier for the remaining miners to create blocks.

Bitcoin mining difficulty has been on a downward trend since the fourth Bitcoin halving in April. This is because miners who lost profits due to the halving, which halved the mining reward from 6.25 BTC to 3.125 BTC, have left the market.

However, as the hash rate of the Bitcoin network has increased recently, the mining difficulty has also started to rise again. This is because US mining companies have recently increased or upgraded the number of mining equipment to increase their market share. The hash rate indicates the total computational power invested in the Bitcoin network. On the 8th, the Bitcoin 7-day moving average hash rate hit a new high of 693.84 EH/s.

Meanwhile, the BTC price rose 2.5% from the previous day to $58,020 as of 4:47 PM on the 12th according to CoinMarketCap. This is an increase of approximately 125% compared to a year ago.

Reporter Kim Jeong-woo

woo@decenter.kr