The Bitcoin mining difficulty has just risen 7.6% to set a new all-time high as the hashrate jumps. This is a significant milestone for the world’s leading cryptocurrency, as it shows that the network is continuing to grow and become more secure.
The mining difficulty is a measure of how difficult it is to find a valid block on the Bitcoin network. It is adjusted every 2016 blocks, or roughly every two weeks, to ensure that the average time to find a block remains constant. As the hashrate of the network increases, the difficulty must also increase to ensure that blocks are found at a consistent rate.
The recent increase in the mining difficulty is a sign that the Bitcoin network is continuing to grow and become more secure. The hashrate of the network has been steadily increasing over the past few months, and this has led to the difficulty increasing as well. This is a positive sign for the network, as it shows that more miners are joining the network and that the network is becoming more secure.
The increase in the mining difficulty is also a sign that the Bitcoin price is likely to continue to rise. As the difficulty increases, it becomes more expensive for miners to produce new blocks. This means that miners will need to charge more for their services, which will lead to an increase in the price of Bitcoin.
Overall, the recent increase in the mining difficulty is a positive sign for the Bitcoin network. It shows that the network is continuing to grow and become more secure, and that the price of Bitcoin is likely to continue to rise. This is great news for Bitcoin investors, as it shows that the network is becoming more secure and that the price of Bitcoin is likely to continue to increase.
Is it still viable to mine then? How many people are going to invest in mining equipment?