Recent on-chain data reveals that the Bitcoin mining difficulty has surged by over 10% in the latest network adjustment. This mining difficulty is a crucial aspect of the Bitcoin blockchain, regulating the cryptocurrency's inflation. Despite Bitcoin having a capped supply that has not been reached yet, the asset's supply continues to rise. Miners generate new BTC by solving blocks and receiving block rewards. These rewards, with a fixed BTC value, are halved during Halving events every four years. To boost token production, miners enhance their total hashrate by adding computing power. However, the network's built-in difficulty counteracts rapid hashrate changes, maintaining a standard block production rate of 10 minutes. The recent difficulty adjustment, reflected in a chart, indicates a surge in hashrate. This adjustment aims to align miners with the network's intended pace, ensuring a predictable production rate despite not reducing inflation. Bitcoin's current value hovers around $64,000, slightly decreasing in the last 24 hours. Read more AI-generated news on: https://app.chaingpt.org/news