The difficulty of mining Bitcoin (BTC) is this week expected to increase the most since January this year after hashrate on the network has seen a notable rise over the past 11 days.
Per data from BTC.com, the estimate for the next difficulty adjustment – expected to occur on Wednesday – is +6.63%, up from the current 28.35 T to 30.23 T.
That would mark the sharpest single upwards adjustment since January 21 this year, when the difficulty level rose by 9.32%.
If the difficulty level is increased upwards as expected this week, it would bring Bitcoin mining difficulty to its third highest level ever. The record was 31.25 T in May, and the second highest was 30.28 T in June, after which difficulty dropped again, data from BTC.com shows.
Bitcoin mining difficulty is the measure of how hard it is to compete for mining rewards. The difficulty level is automatically adjusted roughly every two weeks to ensure there are 10 minutes between each block mined.
The sharp adjustment comes after...
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