Bitcoin mining difficulty still grows, increasing by 8%

Bitcoin mining is changing into increasingly more troublesome. The newest report printed by Glassnode highlights a pointy improve in BTC’s mining problem, amounting to round 8%. In response to the numbers, the mining problem stage reached its highest stage since June 2021.

Every bitcoin block requires 930k Exahashes to resolve at a median block time of 10 minutes. Since China’s announcement of a ban on cryptocurrency mining within the area, main mining firms have migrated to different nations together with the US, Canada and Russia. Whereas mining revenues have elevated considerably over the previous 12 weeks, the problem stage leap has induced a number of issues for BTC miners.

“Bitcoin mining problem has been recovered at 93 and 22 hashes. Which means that every BTC block requires 930k Exahashes to resolve, at a median block time of 10 minutes. The mining problem was solely greater throughout 5 earlier problem adjustment home windows, ”Glassnode identified.

The mining problem has elevated by almost 8% over the previous week. Since June 2021, the mining problem has steadily elevated. Nonetheless, bitcoin’s favorable value ranges are supporting BTC’s mining actions regardless of the most recent challenges.