Bitcoin Mining Difficulty Hits All-Time High

Bitcoin Mining Difficulty Records Highest Jump Since October 2022

Story: Mohd Javed January 16, 2022

Mining difficulty, a measurement unit used in the process of Bitcoin mining, rose to 10% on Monday, an all-time high.

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Mining difficulty indicates how difficult and time-consuming it is to find the right hash for each block.

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On January 3, Bitcoin price surged 27% to trade above $21,000 for the first time since FTX collapsed in early November 2022.

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The Bitcoin difficulty algorithm adjusts itself after every 2,016th block.

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A new block is created about every 10 minutes.

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Several reports indicates that the next mining difficulty change is expected to occur between January 27 and January 29 and will likely rise by as much as 25%

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The Bitcoin mining hashrate also jumped in recent days after a slump in late December.

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