Bitcoin Mining Difficulty Reaches Lifetime High, It’s Now More Difficult Than Ever Before to Find a Block Reward – Mining Bitcoin News

Following the drop in value during Thursday evening’s trading sessions, Bitcoin’s mining difficulty rose to a lifetime high, reaching 26.64 trillion after jumping 9.32% at block height 719,712. The mining difficulty’s all-time high (ATH) is now higher than the ATH it reached on May 15, 2021, which means it is currently more difficult than ever before to find a bitcoin block reward.

Bitcoin’s Mining Difficulty Taps an ATH at 26.64 Trillion, Hashrate Shudders After Price Dip and Difficulty Increase

Bitcoin saw its 357th difficulty adjustment, moving 9.32% above the previous week. At the time of writing, the Bitcoin (BTC) network’s mining difficulty has reached an ATH tapping 26.64 trillion. Last difficulty ATH occurred 251 days back on May 15, 2021 when it reached a peak of barely above 25 trillion.

At that time, at block height 683,424, Bitcoin’s mining difficulty jumped 21.53% making it harder than ever to find a BTC block reward. A significant shift down occurred after China ban crypto mining during the summer of 2021. BTC’s mining difficulty saw the largest epoch drop ever on July 3, 2021, slipping 27.94% lower at block height 689,472.

It was the most difficult parameter change in the past 13 years, as it occurred on Thursday, January 21st, 2022. At the time of writing and for the next two weeks, BTC’s mining difficulty is approximately 26,643,185,256,535. Since the difficulty increase and BTC’s sudden price drop last night, the global hashrate has decreased a great deal.

Currently, the global hashrate is just above 160 exahash per second (EH/s) and just before the difficulty increase the hashrate was coasting along at 218 EH/s, which is 26% higher than today’s hashrate. Foundry USA has 18.1% global havehpower and is currently the biggest mining pool. Foundry has a 35.42 EH/s, followed by F2pool at 29.65 EH/s, and Poolin at 26.77 EH/s.

What do you think about Bitcoin’s mining difficulty reaching an ATH this week? Comment below and let us know how you feel about the subject.

Jamie Redman

Jamie Redman, a Florida-based financial journalist and news lead at Bitcoin.com News is Jamie Redman. Redman joined the cryptocurrency community in 2011 and has continued to be active ever since. Redman is passionate about Bitcoin and open-source codes. Redman has contributed more than 5,000 articles to Bitcoin.com News since September 2015. These articles are about disruptive protocols that are emerging.