The latest adjustment in Bitcoin mining difficulty, as shown by on-chain data, reflects an increase due to the recovery in hashrate. Mining difficulty is a feature in the Bitcoin blockchain that regulates the level of complexity for miners. This adjustment occurs approximately every two weeks and is automated by the blockchain code. A positive adjustment means mining becomes harder, slowing down the pace of miners, while a negative adjustment allows for faster mining. The recent adjustment has seen a 3% increase in difficulty. The purpose of this difficulty adjustment is to maintain a constant block production rate to prevent an oversupply of Bitcoin. The hashrate, representing total mining power, has been on the rise following the positive difficulty adjustment. This trend indicates miners are increasing their mining operations after a period of downsizing. Despite a recent drop in Bitcoin's value, the coin has shown signs of recovery above the $60,000 mark. Read more AI-generated news on: https://app.chaingpt.org/news