Bitcoin Mining Difficulty Has Risen By 3.4%

Bitcoin’s mining difficulty rose roughly 3.4% last week.

The rise was minor compared to the 13% increase earlier this month.

For every 2016 blocks, the mining difficulty is automatically adjusted, which happens around every two weeks. The challenge is ensuring that transactions proceed at a consistent rate regardless of how high or low the network hash rate is at any particular time.

This month, the Bitcoin mining hash rate reached an all-time high of 266 EH/s. As of Sunday, the network hash rate was around 261.35 EH/s.

According to Coin Metrics data, miners have generated roughly $420 million in revenue thus far this month.

At the time of writing, BTC is trading at $19,367.

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Harold

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