After the hash rate, Bitcoin’s mining difficulty also climbs to a new record high

 

The Bitcoin network has reached the next milestone as the mining difficulty has once again climbed to a fresh record high.

As the blockchain analysis service CoinWarz reports today, Friday , the difficulty level of the Bitcoin blockchain has hit a new high of 27.97 trillion. hashes achieved. This is the second time in three weeks that the market-leading cryptocurrency has set a new record for difficulty. On January 23, the mining difficulty is still at 26.7 trillion. cracked a new "All-Time High" (ATH), which has now been improved again.

The mining difficulty is the level of difficulty for mining bitcoin blocks. This is automatically adjusted in relation to the existing hash rate, i.e. the mining performance of the network. A high difficulty therefore suggests that the competition between the miners is correspondingly high. A circumstance that is logically also reflected in the new record. For example , some mining companies are currently selling more Bitcoin assets and company shares in order to have sufficient capital for further investments and to remain competitive.

Naturally, the hash rate or the computing power of the Bitcoin network also reached a new record value of 211.9 EH/s a few days ago . However, the data from crypto analysis services has fluctuated considerably in recent weeks, with Ycharts even posting a new record of 248.11 EH/s last Sunday.

Among the leading mining pools, Antpool and F2Pool make the largest contributions to hash power. For example, in the last four days, Antpool has mined 96 blocks, while F2Pool has mined 93 blocks, according to Blockchain.com data.

By any measure, both hashrate and mining difficulty are clearly on the upswing since the July lows. At that time, the performance had meanwhile slipped to just 69 EH/s, while the difficulty was only 13.6 bio. was standing.

A higher hash rate also means more security for the Bitcoin network, because the more miners contribute to the performance, the more decentralized the blockchain and every transaction that is processed via it.

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