The Bitcoin network has undergone another adjustment to the difficulty of mining. The indicator rose by 1.16% and set a maximum at around 43.55 trillion hashes (data from BTC.com).
Today’s increase in difficulty was not as significant, but still large enough to please cryptors and upset miners. There is now even more pressure on miners to require additional resources to do the same amount of work. At the same time, the price of the first cryptocurrency, despite today’s growth, is still quite low compared to its record highs.
Bitcoin mining difficulty is a metric that reflects how difficult it is to calculate to find a new block and earn a mining reward. Approximately once every 14 days (every 2016 blocks), this value changes – it is automatically adjusted by the network so that finding a block takes an average of 10 minutes, regardless of the network hashrate. If finding a block takes less than 10 minutes, the difficulty increases, if it takes longer, the difficulty drops. The difficulty of mining depends on the hashrate of the network and the time spent on finding the previous blocks. The higher the mining difficulty, the lower the profitability indicator.
The beginning of the week was marked for bitcoin by a price increase above $24,000 (at the time of this writing, the rate was $24,221), so the first cryptocurrency continued to grow, despite the chaos and panic in the stock market due to the collapse of American banks.
In January, the difficulty of mining the first cryptocurrency increased by 4.68%, updating the all-time high at around 39.35 trillion hashes. In February, the indicator increased by another 10%, to 43.05 trillion hashes.
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