Record Mining Difficulty Shows Industry Growth Despite Bitcoin Bear Market
The bears can’t keep miners down as data shows increasing hash rate — which could lead to some uncomfortable hash price realities.Bitcoin may be in a bearish market, but the mining industry is growing bigger than ever. Bitcoin mining difficulty set a new record high for the sixth time this year on Tuesday, reaching 31.25 trillion, according to mining data from Braiins. The 4.89% adjustment was the third-largest increase this year.Even though the leading cryptocurrency’s price has dropped sharply through April and May and continues sitting over 50% below its all-time high from late 2021,....
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Data shows the Bitcoin mining difficulty has set a new all-time high after observing a 13.5% jump during the latest adjustment. Bitcoin Mining Difficulty Sees Highest Single Increase Since May 2021 According to data from BTC.com, the BTC mining difficulty now has a value of 35.61T after the adjustment today, marking a new ATH. An […]
We have just observed a significant step up in the difficulty of Bitcoin hashes. This has come after a sharp rise in the total number of hashes per second on the Bitcoin network. Over the past 24 hours the hash rate has jumped from 127701 GH/s to 148527GH/s, according to Blockchain.info. This is one of the fastest and biggest changes in the history of the bitcoin protocol and demonstrates a continuing exponential growth in not just the difficulty of the proof-of-work calculations, but in the computing power being brought to bear on generating the currency. Difficulty over time, click image....