Bitcoin Mining Difficulty Has Reached an All-time High, Increasing by More Than 6%

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Last Updated on December 24, 2023 by Bitfinsider

The Bitcoin network saw a substantial increase in mining difficulty, topping 72 trillion at block height 822,528. The 6.98% gain over the previous level shows a speeding up of mining activities throughout the world, as well as the deployment of more powerful computer resources in the sector as miners prepare for the approaching halving event.

The next difficulty adjustment is scheduled for January 5, 2024. The increase in mining difficulty corresponds to an increase in the Bitcoin network’s hashrate, which has topped 525 EH/s on a seven-day moving average. At block height 822,590, the current hashrate is around 631.85 EH/s, with a matching difficulty of 72.01 T. The recent increase in Bitcoin’s mining difficulty and hashrate is a revealing evidence of the Bitcoin network’s strength and maturity. Despite market volatility, it demonstrates the network’s durability and capacity to attract major investments in mining infrastructure.

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