Bitcoin

Bitcoin Undergoes Biggest Mining Difficulty Adjustment In Over A Year

Bitcoin mining difficulty experienced its most extensive negative correction in over a year, dropping more than 5%. The hash rate has also dropped recently, which is understandable given that many miners have struggled to survive lately.

Bitcoin Undergoes Biggest Mining Difficulty Adjustment In Over A Year 3

It happens about every two weeks (after 2,016 blocks); difficulty in Bitcoin mining makes it harder or easier for miners to do their job. It follows the miner’s behavior, the latest movements, and adjustments to the hash rate.

BTC.com data shows that the latest correction, which occurred a few hours ago, reduced the difficulty to 5.01%. This is the most significant negative correction since July 3 of last year. Furthermore, this is the third consecutive negative correction, also the most extended negative correction in just over a year.

The difficulty drops to just under 27.69T after peaking above 31T in mid-May.

Difficulty in Bitcoin mining. Source: BTC.com

The current hash rate is also affected. According to BitInfoCharts, it hit ATH on June 8 at over 250 Ehash/s, but it has dropped by almost 25% since then and is currently down to 190 Ehash/s.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.