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Bitcoin Mining Difficulty Aims for All-Time High; Hashrate Already There


cryptonews.com March 31 2021 15:37, UTC
Reading time: ~1 m

Meanwhile, per BitInfoCharts.com, the computational power of the network known as hashrate has also been rising. The 7-day simple moving average of hashrate hit an all-time high of its own on March 25, reaching 145.4807E. It has dropped slightly to 143.3174E since.

As a reminder, the mining difficulty of Bitcoin is adjusted around every two weeks (or more precisely, every 2016 blocks) to maintain the normal 10-minute block time. The 7-day simple moving average block time on March 30 was 9.6 minutes.

Meanwhile, according to ByteTree, miners have been spending their coins rather than holding them. They spent BTC 316 in a day and 763 in a week. Typically, miners build their inventory during market weakness and sell into strength.

Source: terminal.bytetree.com

At 14:56 UTC, BTC trades at USD 58,669 and is almost unchanged in a day. It's up by 7.5% in a week.


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