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Bitcoin mining difficulty at new all-time high

On April 24, 2024, the mining difficulty updated its all-time maximum (ATH) at 88.1 T, according to BTC.com. This is the first change in the indicator after the fourth halving.

Difficulty increased by 1.99%. The current average hashrate is 642.78 EH/s.

Bitcoin mining difficulty and current hashrate. Source: BTC.com.

Note that the complexity of mining determines the required total power of equipment for mining cryptocurrency. If the indicator has increased, this may indicate that activity among miners is growing.

The fourth halving on the Bitcoin network took place on April 20, 2024. After it, the reward for each processed block was reduced to 3,125 BTC.

It was assumed that the income of miners, and therefore their activity, would fall immediately after the halving. However, this did not happen due to high income from commissions.

The next change in the indicator will probably take place on May 8, 2024. The predicted value is an increase of 0.86%.

Source: Cryptocurrency

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