Bitcoin Mining Difficulty Reaches All-Time High
Bitcoin mining difficulty has increased by 7.6% to set a new all-time high, according to data from BTC.com. The mining difficulty reading reached 46.84 trillion at block height 782,208 during Friday's adjustment, following a 1.16% rise in the previous adjustment on March 11. Mining difficulty changes roughly every two weeks and measures the computing power required for mining bitcoin blocks to be rewarded with Bitcoins.
The hashrate, which is a measure of computational power used by miners, was at around 395.15 exahashes per second on Thursday, reaching an all-time high. The profitability rate of Bitcoin mining has to US$0.0861 per terahash per second in the past 24 hours, US$0.19 a year ago, according to data from BitInfoCharts. This decrease in profitability is due to rising energy costs, particularly in Europe.