BTC block mining time reached a very high rate

Wu Blockchain insider in his Twitter account reported that the bitcoin mining time reached 85 minutes. During this time, it was possible to get only one block. And such a mishap led to delays in some transactions. The data provided by the insider cited explorer.btc.com.

The block time at Bitcoin height 759053 – 054 reached a rare 85 minutes, causing some transaction delays. In 2021, due to the ban on Bitcoin mining in China, the block time of 688436-437 reached 100 minutes. https://t.co/KweVuOrh7Q pic.twitter.com/hkboD2nQXL— Wu Blockchain (@WuBlockchain) October 17, 2022

It is noted that bitcoin approached a similar mark once. It happened in 2021 because of the ban on BTC mining in the People’s Republic of China. At that time, the block extraction time stretched to a hundred minutes.

Such anti-records bitcoin demonstrates not just for a reason. On October 10 this year there was a historical maximum of BTC mining difficulty. It was close to the value of 35.61T. At that time, the value rose by more than 13 percent.

Glassnode experts note that on October 11 this year, the bitcoin hash rate jumped to 266.17 EH/s.

We also remind you that we wrote about the “pain threshold” of bitcoin mining. It equals $18,300. Now BTC is traded at about $19.455.