Bitcoin Network Sees Second Largest Difficulty Reduction of 2024
The Bitcoin mining difficulty took a dip this week! On July 4th (block height 850,752), difficulty dropped by 5%, marking the second-biggest reduction of the year. This follows a similar decrease of 5.62% in May (block height 842,688).
Both these adjustments come after the recent Bitcoin halving at block height 840,000. Interestingly, despite hashprice lows, the hashrate remains strong at 582.33 exahash per second (EH/s).
What does this mean?
This difficulty reduction might make mining a little easier in the short term. However, it also reflects a potential decrease in overall mining activity. Stay tuned for further updates!
