See related article: Beijing banned crypto mining, so China miners went underground
- The mining difficulty reading is now at 30.28 trillion at a block height of 739,872, according to BTC.com data.
- The difficulty level, which undergoes adjustments about every two weeks, reached a record high of 31.25 trillion on May 11, but later dropped by 4.3% on May 25.
- Bitcoin mining difficulty is a measure of how hard a miner would have to work to verify transactions on a block in the blockchain, or “dig out” Bitcoins.
- Such mining difficulty adjustments are highly correlated to changes in the mining hashrate — the level of computing power used per second during mining.
- Bitcoin’s hashrate rose to 212.5 exahashes per second on Wednesday on a seven-day average from 204.4 exahashes on May 25, Blockchain.com data showed.