Bitcoin News

Mining difficulty for bitcoin reaches a record high

Finding a Bitcoin (BTC) block reward is currently 0.51% harder than it was over the previous two weeks, or 2,016 processed blocks. The difficulty has increased by 0.51%, reaching a record high of 36.95 trillion, surpassing the previous high set on October 23, 2022. 

Because the block intervals during this retarget were fewer than the ten-minute average, at nine minutes and 58 seconds, the difficulty increased. For the previous 2,016 blocks, the average hashrate was approximately 264.3 exahashes per second (EH/s).

The global hashrate was 347.16 EH/s eight days ago on Nov. 12, 2022, at block height 762,845. It is currently around 261.29 EH/s on Sunday around 7:15 p.m. (ET). 

The current block generation time after the change is nine minutes and 26 seconds, and the subsequent difficulty adjustment is scheduled for sometime on or around December 4, 2022. Both the difficulty change and the current value of BTC in terms of fiat currencies are bad for bitcoin miners.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.