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Bitcoin mining difficulty falls 0.2% in latest adjustment

Mining

forkast.news 07 November 2022 08:19, UTC
  
Reading time: ~2 m

Bitcoin mining difficulty nudged down 0.2% in Monday’s biweekly adjustment, according to data from BTC.com.

See related article: World’s largest Bitcoin miner Core Scientific’s stock tumbles amid liquidity crisis

Fast facts

  • The mining difficulty reading was at 36.76 trillion, as of block height 762,048, the data showed.
  • The difficulty level reached a new high in the previous adjustment on Oct. 24
  • Bitcoin’s seven-day average hashrate was at around 266.3 exahashes per second on Sunday, up from a seven-day average of 261.8 exahashes two weeks ago, Blockchain.com data showed.
  • Bitcoin mining difficulty, which changes about every two weeks, is a measure of how hard a miner has to work to verify transactions in a block to add to the blockchain, or “dig out” Bitcoins.
  • Mining difficulty adjustments are highly correlated to changes in the mining hashrate – the level of computing power used for mining.
  • Bitcoin traded down 1.83% in the past 24 hours to change hands at US$20,793 at 3:30 p.m. in Hong Kong, according to data from CoinMarketCap.

See related article: Hong Kong digital asset firm sets up US$50 mln fund to expand mining business amid crypto winter


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