While waiting for the Fed's interest rate decision in Bitcoin today, a new record came from the BTC mining difficulty.
BTC. According to the data released by Com, Bitcoin mining difficulty increased by 2.18%, reaching an all-time high.
In this context, while the Bitcoin mining difficulty reached 52.35 trillion hashes, it was seen that the hash rate of Bitcoin increased.
The BTC hash rate also reached 385.87 EH/s.
What is Bitcoin Mining Difficulty?
Bitcoin difficulty is an automatically adjusted property that determines how difficult it is to mine a Bitcoin block.
The mining difficulty of the Bitcoin network changes every 2,016 blocks and is automatically updated. The reason for this is to keep the average block production time as 10 minutes.
There is no close correlation between BTC price and Bitcoin mining difficulty and hash rate. Increasing difficulty in the Bitcoin network makes the network more secure and increases competition among miners.
The difficulty of mining Bitcoin usually increases as more miners are online, which increases competition. Miners are rewarded with Bitcoin for verifying transactions on the network. Their profitability largely depends on the Bitcoin spot price and mining difficulty.
*Not investment advice.