BTC Mining Difficulty Hits Record High with 10.50% Increase

IconCryptoNewsTerminal Staff31 Jul, 2024

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BTC Mining Difficulty Hits Record High with 10.50% Increase

Bitcoin mining difficulty has surged by 10.50% to a record high of 90.67T, according to data from btc.com. This latest increase, which occurred around 18:13 today, follows a period of decline in difficulty after the fourth halving. At the time of the adjustment, the average hashrate was recorded at 635.60 EH/s. This surge in difficulty indicates a highly competitive mining environment, where miners require increasingly powerful and efficient hardware to compete for block rewards. The next difficulty adjustment is anticipated to occur in approximately 14 days, with a projected increase of 0.03% to 90.70T. This difficulty adjustment is a significant event in the Bitcoin ecosystem, impacting the profitability and competitiveness of mining operations. It underscores the ongoing evolution of Bitcoin mining and the continuous need for miners to adapt to changing market conditions and technological advancements.

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