Bitcoin’s mining difficulty has once again hit a new all-time high. This time, it has soared above 136 trillion, indicating increased activity among miners.
According to on-chain data from the blockchain analytics platform CryptoQuant, the network’s mining difficulty has been steadily increasing since mid-July.
Mining Difficulty Surges
The Bitcoin mining difficulty is a measure of how difficult it is for miners to solve cryptographic puzzles and validate new blocks. The goal is to complete bitcoin block creation in approximately 10 minutes, secure the decentralized network, and ensure a sustainable creation of new BTC coins.
However, the mining difficulty increases when blocks are mined too quickly. Conversely, it decreases whenever the blocks are mined too slowly. This adjustment occurs after every 2,016 blocks, which are often completed within two weeks.
According to the chart below, the last time that the Bitcoin network saw a decrease in mining difficulty was on July 10th, when
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