The mining difficulty of the world’s largest cryptocurrency, Bitcoin has reached a lifetime high of 29.79 trillion.
Bitcoin has withstood an onslaught of sellers as it calmly rose to $39k despite a choppy broader market. Despite the volatility, its adoption continues and its mining difficulty has never been higher. Zooming out, mining difficulty has risen by approximately 30% since a year ago when the figures were around 23.58 trillion.
Mining Bitcoin Has Never Been More Difficult
According to the data compiled by BTC.com, the Bitcoin mining difficulty has hit a record high after rising by over 5% on April 27. Since the beginning of 2022, the metric has increased by nearly 23% as it underwent three positive readjustments and two negative ones. The next difficulty readjustment is slated for May 10.
Bitcoin Mining Difficulty. Source: BTC.com
Bitcoin’s network hash rate, on the other hand, fluctuated significantly closely following its price action. It even notched an all-time high of
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