It’s getting even harder to mine Bitcoin as the network’s difficulty has once again increased on Sunday, this time by as much as 7.85% since the last adjustment.
According to data from BTC.com, this is the eighth consecutive increase since July, and the second biggest since late August, with the difficulty surpassing 21.66 trillion.
Bitcoin mining is a process of creating new coins by solving complex mathematical puzzles with the help of specialized software installed on users’ computers. Miners compete with each other to verify transactions and add them onto the blockchain, earning rewards for their efforts and resources spent.Bitcoin mining difficulty, in turn, is a measure of how difficult it is to mine new coins—the higher the difficulty, the more additional computing power is needed to find new blocks.
US Becomes Largest Bitcoin Mining Market After China’s Crypto Ban
The difficulty reached an all-time high of 25.05 trillion in May 2021 before plunging to the year’s low o
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