The Bitcoin network has inked its highest difficulty level in more than a month, a move that suggests mining activities on the blockchain is regaining its momentum. The network’s difficulty level is readjusted every 2 weeks or at the attainment of the 2,016 blocks and as of early this morning, the difficulty is up 7.3% and at the time of writing, it is pegged at 15.56T, atop an hashrate of 112.11 EH/s according to data from BTC.com.
Bitcoin mining difficulty. Source: BTC.com
The mining difficulty is greatly influenced by the number of distributed computing systems that are plugged into the network. The higher the number of computers/miners, the more the difficulty and the lower the miners online, the network adjusts itself and the accompanying difficulty level.
The ban of Bitcoin miners resident in China as initiated by Chinese authorities back in May resulted in the largest migration of miners in the history of the network. With millions of mining machines offline, the mining diffic
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