Bitcoin’s mining difficulty rose 0.63% on Thursday, marking the second consecutive increase in the latest adjustments, according to data from BTC.com.
See related article: Stronghold Bitcoin Miner Will Return Mining Rigs To Reduce Debt; stocks plunge as losses mount
- The mining difficulty reading was 28.35 trillion, from block height 749,952, according to the data.
- The difficulty level, which changes roughly every two weeks, saw its biggest drop in a year during a previous adjustment on July 22. The reading was up 1.74% on August 5.
- Bitcoin mining difficulty is a measure of how hard a miner would have to work to verify transactions in a block to be added to the blockchain, or “dig up” Bitcoins.
- These mining difficulty adjustments are highly correlated to changes in mining hashrate – the level of computing power used for mining.
- Bitcoin’s hashrate was around 197.7 exahashes per second on Thursday over a seven-day average, up slightly from 195.9 exahashes on August 5, according to data from Blockchain.com.
- Bitcoin was trading at US$22,778 as of 10:45 a.m. Friday in Hong Kong, down 2.86% in the past 24 hours, according to data from CoinMarketCap.
See related article: Bitcoin Miner PrimeBlock Drops SPAC Signup Plan