Why Thousands of Transactions Are Stuck On Bitcoin?

Thousands Of Transactions Left Unconfirmed As Bitcoin Fails To Produce Block

It took more than an hour for bitcoin to produce a block on Monday.

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Thousands of transactions were left stuck in an unconfirmed state on Monday as it took over an hour to add the next block.

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According to on-chain data from several block explorers, the interval between the two latest blocks mined by Foundry USA and Luxor was 85 minutes.

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According to Mempool, over 13,000 transactions were pending before the latest block was mined.

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Bitcoin underwent a difficulty adjustment last week to ensure block confirmations kept taking place every 10 minutes.

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With mining difficulty surging to 35.6 trillion it has become more expensive to mine bitcoin.

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It is not clear why the latest block confirmation was delayed.

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