Bitcoin Mining Difficulty Hits All-Time High
CryptoNewsTerminal Staff10 Sep, 2024
Bitcoin Mining Difficulty Hits All-Time High
The mining difficulty of the Bitcoin network has been adjusted upwards by 3.58%, reaching an all-time high of 92.67T. This adjustment comes as the average hashrate of the network reached 664.92EH/s. The next difficulty adjustment is expected to occur in approximately 14 days and is projected to result in a 0.15% decrease to 92.53T. The increase in mining difficulty indicates a heightened level of competition among miners, who are working to validate transactions and secure the network. The higher the mining difficulty, the more computational power is required to mine a block, resulting in increased energy consumption and costs associated with mining.
