While Bitcoin's price is falling from all-time highs, mining difficulty is rising. If volatility continues, what will it mean for miners?
difficulty is determined by the overall computational power, which co-relates to the difficulty in confirming transactions and mining BTC.
Since there is no standard agreement to calculate these metrics, different hash rate highs have been recorded over the last few weeks. Despite the different approaches used, a common consensus that both the hash rate and mining difficulty have been climbing since the last drop in July 2021.is the process of adding new transactions to the Bitcoin blockchain. Using proof-of-work , miners compete to solve mathematical problems that validate transactions.
Both the difficulty and the hash are very large numbers expressed in bits, so for the operation to be profitable for miners, the calculation simply requires the hash to be lower than the difficulty. Blocks are targeted to be found by miners every 10 minutes. So, if miners are solving blocks and finding Bitcoin more often than every 10 minutes, on average, the difficulty increases. If miners find Bitcoin less often than every 10 minutes on average, the difficulty decreases.
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