As the historic Bitcoin halving event approaches, the challenge of mining Bitcoin continues to intensify, with the latest adjustment pushing mining difficulty to a record high of 86.4 trillion.
Data from BTC.com reveals that the latest adjustment, occurring on April 10, saw a 3.4% increase in Bitcoin mining difficulty from the previous level of 83 trillion set on March 28.
This adjustment is anticipated to be the last before the impending halving event. The next adjustment is projected to take place in 13 days, approximately on April 24, while the halving event is expected in just eight days, around April 19.
Bitcoin mining difficulty is a measure of the complexity and time required to mine a new block under Bitcoin’s proof-of-work consensus mechanism. It adjusts every 2,016 blocks, or roughly every two weeks, to maintain a target block time of 10 minutes.
The mining difficulty is directly influenced by the Bitcoin blockchain hash rate, reflecting miners’ computational power in generating new BTC. Notably, the hash rate has experienced a substantial surge recently, climbing from approximately 619 exahashes per second (EH/s) on March 28 to 696 EH/s on April 10.
While mining difficulty reached an all-time high on April 10, the Bitcoin hash rate had previously achieved an all-time high, underscoring the growing computational power dedicated to Bitcoin mining.
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