The post hashrate and difficulty at all-time highs appeared on BitcoinEthereumNews.com.

The levels of difficulty and hashrate in Bitcoin mining are reaching new historical records. For the first time in history, the difficulty has risen above 92T (trillions). The previous record was at the beginning of August, when it stopped at 90.66T. Bitcoin mining: the updates of hashrate and difficulty The difficulty of Bitcoin mining is a parameter that updates automatically and exactly always after 2,016 blocks.  The latest update occurred yesterday at block number 860,832, and the next one is scheduled between September 25 and 27, at block number 862,848. The reason why the difficulty varies is that the Bitcoin protocol always tries to ensure that a block is mined on average every 10 minutes. When the hashrate of miners increases, the average time to mine a block also decreases, and so every 2,016 blocks the Bitcoin protocol automatically adjusts the difficulty to slow down the mining process and bring it back to around 10 minutes. The record of the hashrate The fact that the difficulty is at an all-time high means that the hashrate is as well. In fact, taking the weekly average estimates as a reference, the historical peak was reached on Monday, September 9, when it surpassed 690 Eh/s for the first time in history.  It should be noted that before the April halving, the peak was 650 Eh/s, and after the halving, there was a drop to 556 Eh/s in June. In short, the halving of the reward for miners did not halve the computing power they dedicate to mining.  Although by the end of July the hashrate of Bitcoin had already reached a new all-time high, above 660 Eh/s, it was only from the end of August that it solidly rose above 650.  Moreover, during the days of the halving, the price of Bitcoin was…

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Filed under: News - @ September 12, 2024 2:24 pm