Bitcoin mining difficulty continues to surge, reaching a 24% increase over the past 90 days. The next adjustment, projected to occur on January 14th, is anticipated to be negative, with a potential drop exceeding 8%. Bitcoin's hashrate also reached new heights, surpassing 800 EH/s for the first time. This strong performance suggests the cryptocurrency's fundamentals remain robust.
The latest positive difficulty adjustment took place on Sunday. The widely tracked metric has increased by 1.16%. Bitcoin mining difficulty has now grown 24% over the past 90 days. It has added 52% since the start of the year. The next difficulty adjustment, which is expected to take place on Jan. 14, is expected to be a negative one. The key metric is currently projected to plunge by more than 8% to roughly 100.7 trillion.
It is worth noting that mining difficulty adjustments typically take place every two weeks. Satoshi's stroke of genius ensures that new coins do not get over- or underproduced. Bitcoin's hashrate, the metric that shows the total computational power of the network, also keeps hitting new record highs. On Dec. 15, it surpassed 800 EH/s for the first time, according to data provided by Blockchain.com. This shows that Bitcoin's fundamentals remain remarkably strong. Some analysts believe that the price of the leading cryptocurrency tends to follow its hashrate based on past price action. Earlier this month, the cryptocurrency reached a new record high of $108,135, according to CoinGecko data. However, it is now trading at $93,638 after slipping by more than 13%
Bitcoin Mining Difficulty Hashrate Cryptocurrency Market Trends
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin Mining Difficulty Soars, But New Tools Offer Profit OptimizationBitcoin mining faces increasing challenges as difficulty reaches record highs, but sophisticated financial tools are emerging to help miners maximize profits.
Read more »
Prosper Takes the Lead in Tokenizing Bitcoin Hashrate as Omnichain RWAProsper, unique decentralized Bitcoin (BTC) mining protocol that turns hashrate into tokenized RWAs, hits massive milestone
Read more »
Bitcoin (BTC) Hits ATH in Crucial Metric, Data ShowsBitcoin Energy Value, indicator of electricity price for Bitcoin (BTC) mining network, reaches $100,000
Read more »
Bitcoin mining stocks outlook for 2025Bitcoin mining stocks outlook for 2025
Read more »
Top Satoshi Candidate Weighs in on Bitcoin Space MiningTop Satoshi candidate claims that critics of Bitcoin space mining are wrong
Read more »
Bitcoin Mining Company Slashes 27% of Workforce in Strategic Shift Amid DCG Restructuring: ReportCrypto Blog
Read more »