On Friday, the difficulty of Bitcoin increased by around 9.3%. According to network data, today’s difficulty increase is the largest since last August.
Bitcoin
Bitcoin’s network mining difficulty has increased by more than 9%, the largest increase since last summer.
The difficulty of mining increased by 9.32%, according to BTC.com, which records mining difficulty statistics. Today’s increase was the second in 2022, following a 0.41% adjustment on January 8.
The mining level of difficulty on the Bitcoin network is adjusted every 2,016 blocks, on a roughly two-week cycle. Complexity modifications are intended to keep the average block duration of 10 minutes as the hash rate grows and decreases, while actual per-block times sometimes fluctuate.
With the exception of a 1.49% drop on November 28, the difficulty has been steadily rising since last summer’s mining crackdown in China, which sunk the difficulty by its highest share on record as miners in that country shut down their equipment and fled to countries such as the United States and Kazakhstan.
Source: Reuters/Christinne Muschi
The mining hash rate has entirely recovered since late August, according to The Block’s Data Dashboard, with the United States emerging as the world’s current mining superpower.
According to The Block Research, the overall bitcoin hash rate has grown by around 18 EH/s since December 11. Notably, Foundry USA, a subsidiary of the Digital Currency Group, has climbed by around 5 EH/s throughout that period.
Among the world’s top mining pools, this is the quickest pace of increase. F2Pool saw the second-fastest increase throughout that time period, increasing its aggregate mining power by 3.3 EH/s.
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