Bitcoin Rally Arrives Just in Time for Difficulty to Rise – Overview of Bitcoin Mining Difficulty Adjustment
When all signs were pointing to a decline in difficulty, Bitcoin surged beyond the $28,000 mark.
Naturally, Bitcoin's outstanding performance spurred miners to increase the network's hashrate in order to take advantage of the rising price and increasing profitability.
As a result, hashrate experienced a remarkable last-second comeback, shattering the previous epoch's record of 408.71 EH/s and averaging 410.27 EH/s immediately before the difficulty adjustment – another record-breaking high.
Despite its slightness, the most recent increment signifies that our current level of difficulty has increased. The difficulty has now risen by 0.35% to 57.32T after the last modification.
Additionally, given the extreme volatility other markets are currently experiencing, Bitcoin's strength and tenacity are particularly amazing.
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