Bitcoin Mining Difficulty has experienced the largest rise in the past year Bitcoin mining difficulty has experienced the largest rise in two separate weeks over the past year.

Bitcoin mining difficulty has experienced the biggest rise in the past year

Bitcoin mining difficulty experienced the largest rise in two separate weeks in last of the year.

According to BTC.com, the mining difficulty reached 9.06 T on block 584 640 on July 9 at 12:07 GMT, in this way exceeding the previous value of 7.93 T by 14.23%. This is the largest increase in difficulty in any two-week period since August 2018.



The difficulty of mining bitcoin changes every 2,016 blocks, or approximately every 14 days, based on the amount of computing power used in the last cycle, which allows you to maintain a block release rate of 10 minutes.

The increase in difficulty is a reflection of increased competition among miners, currently supplying the network with a hash rate of 65 EH / s. According to BTC.com estimates, after the end of the current cycle, the mining difficulty may grow by another 14.17% and reach 10.35 T.

The current maximum hash rate was recorded on July 5 at 74.5 EH / s. It is assumed that the owners of mining farms in China, activated against the background of the formation of surplus of electricity in the rainy summer months, could become a catalyst for the growth of computing power..

At the end of 2018, the opposite trend was observed - from October to December, the difficulty of mining bitcoin fell by 30% and returned to previous highs only in the last month.

As CoinDesk notes, from June to December 2017 year bitcoin price has risen by 400%. Over the same period, the amount of computing power on the network has increased by at least 200%. During the current rise - from $ 3,000 to $ 12,000, or by 300% - the hash rate has only doubled. Among other things, this lag can be explained by the lack of mining equipment on the market..

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