Bitcoin Network’s Mining Difficulty Rises to All-Time High, Making Block Discovery More Challenging – Mining Bitcoin News
, 2023-01-15 20:31:57,
Bitcoin’s mining difficulty printed a record increase on Jan. 15, 2023, rising 10.26% to 37.73 trillion at block height 772,128. The network’s difficulty is now at an all-time high. This means, on average, it takes 37.73 trillion hashes, or attempts, to find a valid bitcoin block reward and add it to the blockchain.
2023’s First Difficulty Increase Outpaces All but One of the Difficulty Increases in 2022
As of 8:15 p.m. Eastern time on Sunday, Jan. 15, 2023, approximately 286.36 exahash per second (EH/s) of hashrate is dedicated to the Bitcoin (BTC) blockchain. The Bitcoin network experienced a difficulty retarget at 4:11 p.m. Eastern time, at block height 772,128, resulting in an increase of 10.26%.
The difficulty was approximately 34.09 trillion last week, and it reached an all-time high (ATH) of 37.73 trillion on Sunday, making it exceptionally difficult to find a BTC block. Prior to the Jan. 15, 2023, difficulty increase, the highest difficulty rating on the Bitcoin blockchain was 36.76 trillion on Nov. 6, 2022.
The current difficulty is 2.63% higher than the previous high. The Jan. 15 difficulty rise also surpasses all but one of the difficulty increases from last year. In 2022, the largest difficulty increase took place on Oct. 10, 2022, at block height 758,016, when it rose by 13.55%. Bitcoin’s price has climbed 22.7% higher in the last seven days, which is beneficial to Bitcoin miners. However, the 10.26% difficulty increase will make profits a lot…
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