The mining difficulty of the world's largest cryptocurrency, Bitcoin (BTC) has never been higher.
The mining difficulty of the world’s largest cryptocurrency, Bitcoin has never been higher.
Bitcoin has been treading in volatile waters. Despite the recent price dump, though, the Bitcoin network has hit yet another high, this time, in terms of mining difficulty., the Bitcoin difficulty increased by 5% to 27.97 trillion on February 18. In a span of three weeks, the metric went through positive readjustments twice, with the first one reaching 26.64 trillion on January 21.
To put things into perspective, the mining difficulty figure has grown six times consecutively since November 28, 2021. Thus, it has made it more than 23% harder for miners of the Bitcoin network to confirm a block and extract a block reward since then.For the next two weeks, Bitcoin’s mining difficulty will remain at 27.97 trillion. Zooming out, a year back, the metric stood at 21.55 trillion before sustaining four consecutive declines and a subsequent low of 13.67 trillion six months later.
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