The Mining Difficulties Of Bitcoin Had Surpassed All Previous Highs

On Wednesday, Bitcoin mining difficulty reached a new all-time high, up 4.9 percent from the last adjustment last month.

Interesting Tidbits

• According to BTC.com data, the mining difficulty reading is now at 31.25 trillion with a block height of 735,840.

• The previous all-time high of 29.79 trillion was set on April 27.

• The difficulty of Bitcoin mining refers to how difficult it would be for a miner to verify transactions on a block on the blockchain, or dig out Bitcoins.

• Every 2,016 blocks, the difficulty level is adjusted, which normally takes roughly two weeks.

• Changes in mining hashrate, which refers to the amount of computer power used per second during mining, are significantly connected with mining difficulty adjustments. The mining difficulty usually rises in tandem with the hashrate.

• On a seven-day average, the Bitcoin hashrate grew to 221.74 exahashes per second on Tuesday, up marginally from 220.49 exahashes on April 27, according to Blockchain.com data.

Nancy J. Allen

Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.