Bitcoin mining difficulty has been adjusted once again at block height 784224, and this time it has increased by 2.23%. This increase has taken the mining difficulty to a new record high of 47.93 T, which has come as no surprise to those who have been following the trend of Bitcoin mining difficulty over the past few months.
The mining difficulty of Bitcoin has now risen for four consecutive times, which is indicative of the growing interest in Bitcoin mining. This rise in mining difficulty can be attributed to the increase in the number of miners joining the network, as well as the increasing hash rate of the entire network.
The current average hash rate of the entire network is 343.03 EH/s, which is a testament to the growing number of miners joining the network. The rise in mining difficulty can be seen as a positive sign for the Bitcoin network, as it means that more people are interested in mining Bitcoin and keeping the network secure.
While this increase in mining difficulty may be seen as a challenge for individual miners, it is important to note that this is a natural part of the Bitcoin mining process. The mining difficulty adjusts every 2016 blocks, or roughly every two weeks, in order to maintain a steady rate of block creation. This is done to ensure that the Bitcoin network remains secure and that new blocks are created at a consistent rate.
The increase in mining difficulty is a sign of the growing interest in Bitcoin mining and the strength of the Bitcoin network. As the network continues to grow and more people become interested in Bitcoin, it is likely that we will see further increases in mining difficulty in the future. However, for those who are willing to invest in the necessary hardware and software, mining Bitcoin can still be a profitable endeavor.
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This article was republished from azcoinnews.com