Record Bitcoin Mining Difficulty Hits 100 Trillion, Exerting Pressure on Smaller Miners
Bitcoin's mining difficulty reaches a historic high, impacting smaller miners as the network adjusts to increased hashing power.
Bitcoin's mining difficulty soared to a historical high of 101.65 trillion on Monday, increasing the strain on smaller miners who may lack the financial resources of their larger counterparts.
The seven-day moving average hashrate reached 755 EH/s last week, indicating a rise in computational power. This upward trend in mining difficulty translates into a more challenging environment for miners, especially those unlisted on major stock exchanges, making their operations financially burdensome.
Key Points:
- Mining difficulty surpasses 100 trillion.
- The seven-day moving average hash rate peaked at 755 EH/s.
- Increased difficulty places more pressure on smaller miners compared to larger entities.
Mining difficulty reflects the challenge of finding new blocks on the Bitcoin blockchain, adjusting approximately every two weeks. This year marked 23 adjustments, with nearly 60% resulting in increased difficulty. Consequently, small miners may be required to liquidate segments of their Bitcoin production to maintain operational stability.
