On July 18, 2024, the Bitcoin mining difficulty was recalculated. The indicator increased by 3.21%, according to BTC.com.
At the time of writing, Bitcoin mining difficulty is 82.05 T, average hashrate is 599.92 EH/s.
Bitcoin mining difficulty and current hashrate. Source: BTC.com.
Notably, the difficulty has increased for the first time since late May 2024. However, the hashrate continues to fall, according to Glassnode. This is indicated by the 90-day moving average curve:
Bitcoin network hashrate 90-day moving average change. Source: Glassnode.
Note that mining difficulty determines the required total power of equipment for mining cryptocurrency. If the indicator has increased, this may indicate that activity among miners is growing, and vice versa.
The next Bitcoin mining difficulty update is expected on July 31, 2024. The predicted change in value is an increase of 1.1%.
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Source: Cryptocurrency
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