Bitcoin mining difficulty rose by 0.63% on Thursday, marking the second increase in a row in latest adjustments, according to data from BTC.com.
See related article: Bitcoin miner Stronghold to return mining rigs to cut debt; shares plunge as losses widen
- The mining difficulty reading was at 28.35 trillion, as of block height 749,952, the data showed.
- The difficulty level, which changes about every two weeks, recorded its largest fall in a year during a previous adjustment on July 22. The reading was up 1.74% on Aug. 5.
- Bitcoin mining difficulty is a measure of how hard a miner would have to work to verify transactions in a block to add to 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 for mining.
- Bitcoin’s hashrate was at around 197.7 exahashes per second on Thursday on a seven-day average, slightly up from 195.9 exahashes on Aug. 5, Blockchain.com data showed.
- Bitcoin was trading at US$22,778 as of 10:45 a.m. on Friday in Hong Kong, down 2.86% in the past 24 hours, according to data from CoinMarketCap.
See related article: Bitcoin miner PrimeBlock ditches SPAC listing plan