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Bitcoin’s mining difficulty hits new high, network computing power surges

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Bitcoins mining difficulty hits new high, network computing power surges

According to the report, the data shows that the mining difficulty of Bitcoin has increased by 1.16% to 43.55T, a record high. At present, the average computing power of the whole network is 313.26 EH/s.

Data: Bitcoin mining difficulty increased by 1.16% to 43.55T, a record high

Analysis based on this information:


Bitcoin’s mining difficulty has reached an all-time high, hitting 43.55T with a 1.16% increase, according to a recent report. This increase in mining difficulty is due to multiple factors, including a decrease in the supply of newly minted bitcoins and the growing complexity of the blockchain. As the blockchain grows in size and complexity, it takes more computational power to mine each block.

Mining difficulty can be defined as the amount of computational power required to mine each block in the Bitcoin network. As more miners join the network and compete for the same reward, mining difficulty increases to maintain the generation of new blocks at a steady pace. Mining difficulty is adjusted every 2,016 blocks, which takes roughly two weeks.

The increase in mining difficulty has caused a surge in the computing power of the Bitcoin network, which now averages around 313.26 EH/s. This amount of computing power is equivalent to over 313 quadrillion calculations per second, making the Bitcoin network one of the most powerful computing networks in the world.

The surge in computing power has implications for both the security and sustainability of the Bitcoin network. As the network grows, so does the amount of energy required to power it. This energy consumption has been a topic of controversy, as it is estimated that the Bitcoin network consumes more energy than some entire countries.

However, the increase in computing power also makes the network more secure. The higher the computing power, the more difficult it is for attackers to manipulate the blockchain. It also makes it more difficult for a single entity to control the majority of the network’s mining power.

In summary, the recent increase in Bitcoin’s mining difficulty and network computing power represents a significant milestone for the cryptocurrency. It showcases the growing interest in Bitcoin and the significant resources being devoted to its mining and maintenance. However, the surge in energy consumption raises questions about the sustainability of the network in the long run. The increase in security, on the other hand, gives Bitcoin enthusiasts and investors more confidence in the technology’s viability.

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