Bitcoin Mining Difficulty Jumps 3.21%, Highest Increase in Months

IconCryptoNewsTerminal Staff18 Jul, 2024

cryptonews.jpg

Bitcoin Mining Difficulty Jumps 3.21%, Highest Increase in Months

Bitcoin mining difficulty, a measure of how hard it is to mine new blocks, has increased by 3.21% to 82.05T, according to BTC.com. This marks the first time in three months that the difficulty has risen by more than 3%.  The average hashrate, or the total computing power dedicated to the Bitcoin network, was 643.05 EH/s at the time of the adjustment. The next difficulty adjustment is expected to occur in approximately 14 days, with a projected 1.06% increase to 82.92T. The recent difficulty increase suggests that more miners are joining the Bitcoin network, making it more competitive to earn block rewards. As the hashrate grows, the difficulty must adjust to maintain a consistent block time of approximately 10 minutes.

Related News