Bitcoin Mining Difficulty Achieved a New All-Time High

Data reveals that Bitcoin mining difficulty reached a record all-time high hitting 32.05 trillion hashes. This means that miners need to perform more than 32 T hashes to solve a mathematical puzzle and add a new block to the blockchain.

After the previous estimation, the difficulty increased by 3.45%.

The average hash rate, the computing power used by the network to process transactions is more than 200 exahash per second at 229.39 EH/s, which is close to the all-time high of 231 EH/s reached in June.

The leading mining pool is Foundry USA, contributing 28% of the total global hash rate. Next comes AntPool with 16.15%.

On the other hand, mining profitability fell as a result of the Bitcoin price decline. The leading cryptocurrency currently trades at around $20,300. In the last 24 hours, the price dropped by 8.7% amid the report revealing that the August Consumer Price Index (CPI) reached 8.3%.