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

Quick Take

The difficulty level of Bitcoin mining has recently undergone an upward adjustment exceeding 7%. This noteworthy shift signifies the 11th such increase seen this year, clearly highlighting a pattern of escalating difficulty.

Interestingly, the last adjustment trended in the contrary direction, making the present increase the second-largest adjustment observed this year. These fluctuations are instrumental in comprehending the terrain of Bitcoin mining, as they directly correlate with the effort required to generate new blocks.

With both the hash rate and the difficulty persistently soaring, an uptick in mining activity and competition is signaled. This progression further cements Bitcoin’s resilient and decentralized network. However, it also implies that individual miners could encounter heightened challenges in their operations.

The post Bitcoin mining difficulty sees 7% uptick in 11th such rise this year appeared first on CryptoSlate.

Credit: Source link