Bitcoin mining difficulty increased by almost 10%

  • Dmitrey Slavskyi
  • 12:01 Feb 27, 2023
Bitcoin mining difficulty increased by almost 10%

Bitcoin mining difficulty increased by 9.95% last Friday, according to jump in mining difficulty was a direct result of connecting more hardware and increasing competition between mining pools.

The difficulty indicator is adjusted every two weeks after the mining of 2016 blocks. The computing power of the network has also been growing since the end of last week.

According to Block Research, the BTC hashrate reached 311.44 exahash per second the day before. (Eh/s).

Luxor CEO Ethan Vera stressed that the increase in hashrate was the result of connecting more productive equipment to the network and reducing energy tariffs.

In addition, the expansion of the global infrastructure for mining has a positive effect on bitcoin capacities. The strengthening of the BTC rate also creates conditions for the activation of miners. Mining difficulty has increased three times this year.

According to the forecasts of analysts of the investment company D.A. Davidson, competition between miners will intensify this year. Foundry, AntPool, F2Pool, Binance Pool and ViaBTC are currently leading the ranking of mining pools.

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