U.S. markets closed
  • S&P 500

    3,744.52
    -38.76 (-1.02%)
     
  • Dow 30

    29,926.94
    -346.93 (-1.15%)
     
  • Nasdaq

    11,073.31
    -75.33 (-0.68%)
     
  • Russell 2000

    1,752.51
    -10.18 (-0.58%)
     
  • Crude Oil

    88.90
    +0.45 (+0.51%)
     
  • Gold

    1,719.80
    -1.00 (-0.06%)
     
  • Silver

    20.65
    -0.01 (-0.07%)
     
  • EUR/USD

    0.9792
    -0.0003 (-0.03%)
     
  • 10-Yr Bond

    3.8260
    +0.0670 (+1.78%)
     
  • GBP/USD

    1.1160
    -0.0009 (-0.08%)
     
  • USD/JPY

    145.0810
    +0.0130 (+0.01%)
     
  • BTC-USD

    19,951.66
    -194.00 (-0.96%)
     
  • CMC Crypto 200

    456.11
    -7.01 (-1.51%)
     
  • FTSE 100

    6,997.27
    -55.35 (-0.78%)
     
  • Nikkei 225

    27,311.30
    +190.80 (+0.70%)
     

Bitcoin mining difficulty rises 1.74% after three consecutive drops

·1 min read

Bitcoin mining difficulty rose by 1.74% on Thursday following three consecutive drops in previous adjustments, according to data from BTC.com.

See related article: Chinese mining rig maker Canaan says global expansion on track despite ‘crypto winter’

Fast facts

  • The mining difficulty reading was at 28.17 trillion, as of block height 747,936, the data showed.

  • The difficulty level, which changes about every two weeks, recorded its largest fall in a year during the last adjustment on July 22.

  • Bitcoin mining difficulty is a measure of how hard a miner would have to work to verify transactions in a block to add to the blockchain, or “dig out” Bitcoins.

  • Such mining difficulty adjustments are highly correlated to changes in the mining hashrate — the level of computing power used for mining.

  • Bitcoin’s hashrate was at around 197.4 exahashes per second on Thursday on a seven-day average, slightly up from 195.9 exahashes on July 22, Blockchain.com data showed.

  • Bitcoin was trading at US$22,925 as of 10 a.m. on Friday in Hong Kong, down 1.1% over 24 hours, according to data from CoinMarketCap.

See related article: Singapore-based Bitcoin miner scales back Kazakhstan project