Bitcoin’s Mining Difficulty Hits Record High With Sixth Consecutive Rise

On November 25, 2023, the Bitcoin web marked its sixth consecutive trouble rise, reaching a caller highest astatine artifact 818,496. The trouble soared by 5.07%, mounting a grounds precocious of 67.96 trillion, a level that volition persist until the adjacent accommodation connected December 9, 2023.

Bitcoin’s Difficulty Jumps 5% and Over 23% Higher During the Past 2 Months

The latest summation successful Bitcoin’s difficulty, a 5.07% uptick, occurred connected the evening of November 25 astatine artifact 818,496. This marks the sixth emergence successful trouble since September 19, 2023, astatine artifact 808,416. Over the past 68 days, the cumulative summation stands astatine 23.27%. Despite this sizeable emergence implicit the two-month period, the network’s hashrate hasn’t shown immoderate signs of slowing down, with miners consistently mounting caller records successful this domain.

For example, astatine 7:00 a.m. Eastern Time connected November 25, the hashrate’s seven-day moving mean deed an unprecedented peak, reaching 507 exahash per 2nd (EH/s). Despite the caller accommodation successful difficulty, the hashrate continues to support a robust level of astir 500 EH/s. With the trouble present established astatine 67.96 trillion, bitcoin (BTC) miners are required to exert a important magnitude of computational effort to observe blocks wrong this challenging precocious trouble environment.

As of this report, astir 49 pools are contributing their hashrate to the Bitcoin blockchain, with the smallest among them offering 916 megahash per 2nd (MH/s). The starring mining pool, Antpool, boasts a formidable 135.10 EH/s of hashpower, representing 27.23% of the wide total. Hot connected its heels is the second-largest pool, Foundry USA, which commands 131.86 EH/s, amounting to 26.58% of the corporate hashrate. Following these 2 giants successful the mining arena are F2pool, Viabtc, and Binance Pool.

Time volition uncover whether the caller trouble adjustment, exceeding 5%, genuinely impacts miners’ activities, but existent indications suggest the hashrate remains undeterred. In anticipation of the upcoming halving, mining entities person been actively expanding their arsenals with thousands of caller machines, enhancing their fleet’s potency. The instauration of these newer, much businesslike models, combined with the escalating BTC prices, has been a important catalyst successful driving some the hashrate and the mining pools that make it.

What bash you deliberation astir the network’s trouble rising by much than 5% connected November 25? Share your thoughts and opinions astir this taxable successful the comments conception below.