The mining difficulty in Bitcoin, which is automatically adjusted by the system approximately every two weeks, has set a new record today, increasing by more than 10 percent.
In today’s adjustment, this figure increased by 10.79 percent to 20,606,060,489,223, roughly 20.6 trillion. The previous high was recorded on October 17, 2020, and the bitcoin difficulty reached 19.997 trillion that day. In terms of percentage, this increase is also the biggest increase since September 2020.
The difficulty setting is carried out approximately every two weeks according to the changes in the hash rate, and thus, blocks are found every 10 minutes based on the increase and decrease in the computing power in the Bitcoin network. As is known, if the hash rate stays low with high difficulty, block times shorten, otherwise the opposite is true. In addition, participation in mining is also encouraged in this way.
According to the latest data, the hash rate, which refers to the total computing power of the hardware used to produce Bitcoin, is at the level of 148 quintillion hashes per second.