Bitcoin difficulty has reached an all-time high, with hash rate increasing by 45 percent in six months.
As competition among miners heats up, the Bitcoin network has reached another all-time high in terms of difficulty.
After a steady ascent from the lows of late July, the Bitcoin network has reached yet another all-time high in mining difficulty.
On-chain analysis software On February 18, CoinWarz reported that mining difficulty has reached a new high of 27.97 trillion hashes (T). Bitcoin (BTC) has now reached a new all-time high in terms of difficulty for the second time in three weeks. On January 23, the difficulty hit 26.7 T, with hash rates of 190.71 EH/s (exahashes per second).
Higher difficulty implies that miners are competing harder to confirm a block and collect a block reward. As a result, miners have recently began selling coins or shares in order to maintain their cash reserves. Marathon Digital Holdings, for example, filed on Feb. 12 to sell $750 million in company stock.
According to Blockchain.com statistics, the network’s hash rate has also reached a new high, with a hash rate of 211.9 EH/s. Over the previous few weeks, various monitoring tools have recorded varying hash rate highs. On February 13, YCharts tools showed a hash rate ATH of 248.11 EH/s.
AntPool and F2Pool have supplied the highest hash power among the recognised worldwide mining pools. According to Blockchain.com statistics, Antpool has mined 96 blocks in the previous four days, while F2Pool has mined 93.
Regardless of the equipment employed, both hash rate and mining difficulty have been on the rise since hitting lows in July. At the moment, the hash rate was at 69 (EH/s, according to CoinWarz), while the mining difficulty was at a low of 13.6 trillion hashes (T).
A higher hash rate, on the other hand, indicates stronger network security. The more hash power the network employs, the more evenly spread the work for each transaction that occurs on-chain.This conflict between miners and safeguarding the network while reaping sufficient earnings is expected to continue as they assess the viability of their existing activities.
