Bitcoin mining difficulty rose 0.51% to an all-time-high in Monday’s biweekly adjustment, according to BTC.com, despite the price of Bitcoin falling more than 22% in the past two weeks.
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Fast facts
- The difficulty of mining Bitcoin has risen more than 51% so far in 2022, while the price of Bitcoin dropped 65%.
- Bitcoin mining difficulty changes roughly every two weeks, and it correlates with changes in how much computing power is used for mining bitcoin blocks to be rewarded with Bitcoins.
- Bitcoin’s seven-day average hashrate was at around 256 exahashes per second on Sunday, down from a seven-day average of around 266 exahashes two weeks ago, Blockchain.com data showed.
- The mining difficulty reading was at 36.95 trillion, as of block height 764,064, the data showed.
- A chart from BTC.com shows the mining pool Foundry USA run by a subsidiary of venture capital company Digital Currency Group, currently provides more than 27% of the computing power for the entire Bitcoin network. About twelve months ago, Foundry USA accounted for about 11.5% of the network, ranked fifth among all the mining pools.
- Bitcoin traded down 3.97% in the past 24 hours to change hands at US$16,048 at 4 p.m. in Hong Kong, according to data from CoinMarketCap.
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