Bitcoin Mining Difficulty Reaches New High With Recent Adjustment

According to BlockBeats, on November 5, BTC.com data revealed that Bitcoin mining difficulty experienced an adjustment at block height 868,896. This adjustment occurred at 6:28:08 AM UTC+8, resulting in a 6.24% increase in mining difficulty, reaching a new all-time high of 101.65 T. The recent adjustment reflects the ongoing trend of increasing mining difficulty, which is a measure of how challenging it is to find a new block in the Bitcoin blockchain. This increase is indicative of the growing computational power being dedicated to Bitcoin mining, as miners continue to invest in more advanced hardware to remain competitive. The adjustment is part of the Bitcoin protocol's regular updates, which occur approximately every two weeks to ensure that blocks are mined at a consistent rate. Currently, the average hash rate across the network over the past seven days stands at 723.34 exahashes per second (EH/s). This metric represents the total computational power used by miners globally and is a key indicator of the network's security and efficiency. As the hash rate increases, it generally signifies a more secure network, as more computational power is required to alter or attack the blockchain. The rise in mining difficulty and hash rate underscores the continued interest and investment in Bitcoin mining, despite fluctuations in the cryptocurrency market. As miners adapt to these changes, the Bitcoin network remains robust, maintaining its decentralized nature and security.