Bitcoin mining difficulty sees 7% uptick in 11th such rise this year

quick take

Bitcoin mining difficulty has recently undergone an upward adjustment of over 7%. This remarkable shift marks the 11th increase this year and clearly highlights a pattern of growing difficulty.

Interestingly, the previous correction trended in the opposite direction, making this increase the second largest correction observed this year. These fluctuations are directly correlated with the effort required to generate new blocks, which helps us understand the Bitcoin mining landscape.

The continued rise in both hashrate and difficulty portends increased mining activity and competition. This advancement will further strengthen Bitcoin’s resilient decentralized network. But this also means that individual miners may face greater challenges in their operations.

Difficulty: (Source: Glassnode)

Post Bitcoin Mining Difficulties Sees 11th 7% Rise This Year First Appearing on CryptoSlate

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