The Bitcoin network has undergone another adjustment to the difficulty of mining. The indicator decreased by 1.45% and fixed at around 48 trillion hashes.
Today’s difficulty change was minor. This should please miners, as the pressure on them has also eased a little, but the price of the first cryptocurrency is still quite low compared to its all-time highs.
Bitcoin mining difficulty is a metric that reflects how difficult it is to calculate to find a new block and earn a mining reward. Approximately once every 14 days (every 2016 blocks), this value changes – it is automatically adjusted by the network so that finding a block takes an average of 10 minutes, regardless of the network hashrate. If finding a block takes less than 10 minutes, the difficulty increases, if it takes longer, the difficulty drops. The difficulty of mining depends on the hashrate of the network and the time spent on finding the previous blocks. The higher the mining difficulty, the lower the profitability indicator.
The previous adjustment occurred on April 20, on that day the indicator rose by 1.72% and set a maximum at around 48.71 trillion hashes.
In January, the difficulty of mining bitcoin increased by 4.68%, updating the all-time high at around 39.35 trillion hashes. In February, the indicator increased by another 10%, to 43.05 trillion hashes.
The exchange rate of the first cryptocurrency at the time of this writing is $28,857.
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