The difficulty of Bitcoin mining has dropped by nearly 6%, marking the largest decrease since the bear market began.

The Block cited data from the Bitcoin data tracking platform Bitbo, reporting that the mining difficulty of the Bitcoin network decreased by 5.7% to 83.1 terahashes at block height 842,688, marking the largest negative adjustment in nearly 18 months. This is also the highest negative adjustment since the low point of the bear market in December 2022, when the difficulty decreased by 7% on December 6, 2022, with the Bitcoin trading price at around $17,000.

The Bitcoin mining difficulty adjusts automatically approximately every two weeks, or every 2016 blocks, to maintain the block production rate at around 10 minutes. Generally, when the number of miners increases, new blocks are mined faster, so the network automatically increases the mining difficulty of Bitcoin. Conversely, if the number of miners competing to find new blocks decreases, the protocol will lower the mining difficulty to make it easier for remaining miners to discover new blocks.

This article is from Zombit：https://zombit.info/bitcoin-mining-difficulty-adjustment-largest-drop-since-bear-market-lows/

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2024/5/13