Bitcoin Hits All-Time High Network Difficulty Amid Price Fluctuations By Cointelegraph

©Reuters. Bitcoin Records All-Time High Network Difficulty Amid Price Fluctuations

The network () has recorded a new all-time mining difficulty high of 26.643 trillion with an average hash rate of 190.71 exahash per second (EH/s), indicating strong community support despite a bear market.

  • Bitcoin Network Difficulty Hits New All-Time High

The difficulty of the Bitcoin network is determined by global computing power, which correlates with the difficulty of confirming transactions and mining BTC. As data from blockchain.com shows, the difficulty of the network saw a drop between May and July 2021 due to various reasons, such as the general ban on cryptocurrency mining in China.

Bitcoin network difficulty. Source: Blockchain.com.

  • Bitcoin Hash Rate Jumps to All-Time High and Jack Dorsey Confirms Block Mining System

However, as displaced miners resumed operations from other countries, the network difficulty saw a drastic recovery from August 2021. As a result, on Saturday, the Bitcoin network posted an all-time high of 26.643 billion.

Read the full article on Cointelegraph

Legal warning: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Medium or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Leave a Reply

Your email address will not be published. Required fields are marked *