Bitcoin

Bitcoin Mining Difficulty Decreased 2.35%

Currently, the indicators show that the difficulty of mining Bitcoin has decreased by 2.35%, which is the second sharp decrease this year.

The decline followed a 1.29% increase in difficulty at the beginning of June. Earlier, at the end of May, it had fallen 4.33%.

In the Bitcoin network, Bitcoin Hashrate is the miner’s computational speed of solving the SHA-256 algorithm, also known as hash power. The hash per second is a measure of the miner’s performance. It is the unit representing the number of double SHA-256 calculations performed in a second.

In general, many people often agree that the decline of the Hash Rate also proves that miners have left the network leading to a fall in BTC prices and vice versa. The miners who “discover” this hash will win a reward for the next block of trading. The mining difficulty is adjusted after every 2,016 blocks (about every two weeks) in sync with the network’s hash rate.

Source: CryptoQuant

Meanwhile, the network’s hash rate has fallen by about 2.6% since June 8.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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