Bitcoin mining difficulty hits another all-time high, up 3.45%

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Bitcoin mining difficulty rose 3.45%, down from the previous jump of 9.26%, but the fourth consecutive positive adjustment.

The change since August 31 is reflected in data released by BTC.com, which tracks network operating difficulties and releases an update as adjustments take place approximately every two weeks.

Mining difficulty had dropped significantly earlier this summer as bitcoin miners turned off their machines in response to conservation demands during peaks in electricity demand due to extreme heat.

Mining difficulty refers to the complexity of the process behind mining, during which miners repeatedly try to find a hash below a set level. Miners who “discover” this hash earn the reward for the next transaction block. The difficulty adjusts every 2,016 blocks (approximately every two weeks) in sync with the network hash rate.

© 2022 The Block Crypto, Inc. All rights reserved. This article is provided for informational purposes only. It is not offered or intended for use as legal, tax, investment, financial or other advice.

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