Bitcoin’s mining difficulty level rose 4.68% on Sunday, hitting an all-time high, as the networks’ hashrate also continued to increase.
See related article: Blockstream says it raised US$125 million to expand Bitcoin mining operations
- The mining difficulty reading came in at 39.35 trillion at block height 774,144 in Sunday’s biweekly adjustment, following a 10.26% rise in the previous adjustment on Jan. 16, according to data from BTC.com.
- The latest Bitcoin mining difficulty reading was nearly 48% higher than on Jan. 21 of last year, when the difficulty reading was at 26.64 trillion.
- Bitcoin mining difficulty, which determines how much computing power is required to verify blocks on the blockchain in exchange for Bitcoins rewards, changes roughly every two weeks.
- Bitcoin’s hashrate, a measure of computational power used by miners, was at around 311 exahashes per second on Monday, up from 274.69 exahashes on Jan. 16, BTC.com data showed.
- Bitcoin’s price gained 2% over the last 24 hours to trade at US$23,690 at 1:30 p.m. in Hong Kong, as part of its 4.16% weekly gain and 43% monthly rise, according to data from CoinMarketCap.
- The profitability rate of Bitcoin mining stood at US$0.074 per terahash per second in the past 24 hours, down from US$0.185 from a year ago, data from BitInfoCharts showed.
See related article: U.S.’ first nuclear-powered Bitcoin mining center to open in Q1
- SEO Powered Content & PR Distribution. Get Amplified Today.
- Platoblockchain. Web3 Metaverse Intelligence. Knowledge Amplified. Access Here.
- Source: https://forkast.news/headlines/bitcoin-mining-difficulty-hits-new-all-time-high-with-4-7-rise/