Bitcoin $92,802.9(BTC) mining difficulty It set a new record at 110.45 trillion, with a positive adjustment for the eighth consecutive year. The difficulty level reached indicates that mining is approximately 110.45 trillion times more difficult than the initial block of the largest cryptocurrency. Difficulty adjustments occur every 2,016 blocks, and with this adjustment, blocks are mined on average every 10 minutes in the Bitcoin Blockchain.
Miners Face Increased Fierce Competition
Bitcoin miningSuccessive positive adjustments in mining increased the pressure on miners. More challenges make the industry increasingly competitive. This pushes especially public mining companies to develop different strategies. For example MARA Holdings (MARA) BTC It issued convertible bonds for its purchases and generated income by lending out the BTCs it owned.
As in the past, the increasing trend in mining difficulty has caused some companies to turn to high-performance computing and artificial intelligence sectors. Another consequence of the difficulty increases is that equipment with low mining efficiency becomes less profitable and is discarded.
Historical Data Shows Difficulty Trends
The difficulty level in Bitcoin mining has recorded record series before. For example, following China’s mining ban in the summer of 2021, the difficulty was adjusted positive nine times in a row, which coincided with the peak of the bull market when the price reached $69,000.
A similar situation occurred in 2018. There were 17 positive adjustments during the year, followed by a negative adjustment, with the price falling to $3,000.
All these developments Bitcoin networkIt reveals the growth potential of Turkey and the sustainability of mining activities. With this hashrate It is estimated that its power will reach 1 zettahash/second before the next block reward halving.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
