On December 29, 2024, the Bitcoin mining difficulty metric hit an all-time high of 109.78 T. It has increased by 1.16% since the last change, according to CloverPool.
The current average hashrate on the Bitcoin network is 718.77 EH/s.
As the mining difficulty increases, miners need more resources — more computing power and more electricity — to find the correct hash of a new block. An increase in this metric usually indicates an increase in miner activity, while a decrease indicates a decline.
The increase in difficulty also brings the date of the next Bitcoin halving closer, the last of which took place on April 20, 2024.
According to The Block, mining difficulty is not measured in specific units. It is a relative metric that shows how much harder it is to mine a new block compared to the easiest period. The difficulty adjustment happens automatically after every 2016 blocks, which takes about two weeks.
The next recalculation will take place approximately on January 12, 2025.#BtcNewHolder #2024withBinance #2024To2025
