{"id":13220,"date":"2024-02-05T11:01:46","date_gmt":"2024-02-05T08:01:46","guid":{"rendered":"https:\/\/blog.egemoney.com\/?p=13220"},"modified":"2024-02-05T11:01:50","modified_gmt":"2024-02-05T08:01:50","slug":"bitcoin-mining-difficulty-increases","status":"publish","type":"post","link":"https:\/\/blog.egemoney.com\/en\/bitcoin-mining-difficulty-increases\/","title":{"rendered":"Bitcoin Mining Difficulty Increases"},"content":{"rendered":"
As recorded as the biggest leap of the year, with a 7.33% increase, Bitcoin mining<\/a> has entered into its most challenging period in history.<\/p><\/blockquote>\n
On February 2nd, the mining difficulty of Bitcoin<\/a> reached<\/a> 75.50T at block 828,576, marking a new peak by surpassing its previous record. This occurred shortly after the record increase on January 6th, highlighting the increasing difficulties and computational needs in mining.<\/p>\n
Bitcoin Halving is Approaching<\/h2>\n
The latest mining difficulty adjustment was made with the aim of maintaining the network’s average block finding time of 10 minutes. This represents a significant change since the previous adjustment on January 20, 2024, which saw a decrease in difficulty by 3.90%.<\/p>\n
The Bitcoin network<\/strong> makes a difficulty adjustment every two weeks to adapt to changes in computational power. With the current difficulty level at 75.50 trillion, it has become even more challenging for miners to produce a valid Bitcoin<\/strong> block.<\/p>\n
The fourth halving event, which will happen in about 11,500 blocks, will reduce the mining<\/strong> reward from 6.25 to 3.125 bitcoins. This will increase competition among miners, leading to a reduction in rewards.<\/p>\n
Current Status of Bitcoin Hash Rate<\/h2>\n