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Showing results for tags 'bitcoin mining difficulty'.
For the second time in April, the Bitcoin network reached a new all-time high (ATH) in network difficulty, increasing from the previous ATH of 28.587 trillion to 29.794 trillion. This is positive as a greater network difficulty demands greater computational power to successfully mine a Bitcoin (BTC) block, leading to increased security and decreased vulnerability to network takeovers by malicious actors. https://cointelegraph.com/news/bitcoin-network-difficulty-breaks-into-a-new-all-time-high-of-29-794t
Bitcoin's mining difficulty is poised to see its largest drop ever in an upcoming adjustment. Multiple on-chain data sites estimate that the mining difficulty will see a plunge of around 21% in its upcoming adjustment that is set to happen at the block height 689,472. The difficulty and hash rate plunge reflect the magnitude of China’s mining farm shutdown orders this month. This is not bad or good. This is just how bitcoin is supposed to function. It also reduces energy expenditure.