Bitcoin Mining Difficulty Sets Record at 127,6 Trillion

Bitcoin mining difficulty hit a record high of 127,6 trillion this week, making it harder than ever to mine new blocks. Miners now need more computing power to solve the problems needed to confirm transactions and earn rewards.

However, according to CoinWarz, a slight decline of around 9% is possible on August 3, leaving the difficulty at around 123,7 trillion.

This adjustment is part of Bitcoin’s built-in system that ensures stable block production even if the number of mining participants changes.

The increase in mining difficulty indicates that more miners are joining the network, which improves security and decentralization. However, there was a brief dip in June, when the difficulty dropped to 116,9 trillion. Since then, the network has recovered significantly, and miners are clearly ready to compete in a more challenging environment.

Interestingly, the increasing difficulty has not affected miners’ income. In fact, profits peaked after the halving at $52,63 million per exahash per day. This suggests that either miners are using more efficient devices or high prices for Bitcoin help compensate for the extra competition. Usually, the higher the difficulty, the harder it is to get a reward, but this time, miners are still doing well.

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