Bitcoin's mining difficulty reached 43.05 trillion hashes and surpassed the 40 trillion mark for the first time ever.
Bitcoin Mining Difficulty Reaches All-Time High as Miners Face Second-Largest Increase This Year
Bitcoin’s mining difficulty reached an all-time high on Feb. 24, 2023, at block height #778,176, reaching 43.05 trillion hashes and surpassing the 40 trillion mark for the first time ever. The network’s difficulty increased by 9.95%, which is the second-largest rise this year, as Bitcoin recorded a combined 24.89% increase during the last 60 days.It has never been harder to minethan it is today, as miners have experienced a 9.95% difficulty increase at block height #778,176.
The average block time before the difficulty change on Friday was around 9 minutes and 11 seconds, and today, block times are between 12 and 14 minutes in length. The lengthier block time shows that the recent difficulty change has slowed miners down. On Saturday, Feb. 25, 2023, the network’s global hashrate is coasting along at values between 294.91 EH/s and 238.44 EH/s.in terms of hashrate is Foundry USA with 103.18 EH/s or 34.88% of the network’s total hashpower.
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