Bitcoin Mining Difficulty Reaches New All-Time High of 67.96T

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The Bitcoin mining difficulty has reached a new all-time high, with a significant increase of 5.07%. This adjustment occurred at block height 818,496, bringing the difficulty metric to 67.96 T. The mining difficulty measures the power required to verify transaction blocks on the Bitcoin blockchain, and a higher difficulty value indicates increased demand for the network. This surge in difficulty is the sixth consecutive increase in the past six adjustments, surpassing initial projections. The network hash rate, which represents the total computing power for mining BTC, has also risen by 3.76% to 504.8 EH/s. Factors contributing to the rising difficulty include BTC’s recent price performance, increased network activity, and higher transaction fees. As the difficulty continues to rise, miners face the challenge of maintaining profitability. In terms of price, Bitcoin is currently valued at $37,510, reflecting a 0.6% increase in the past day. It has maintained most of its profit on the weekly timeframe, with a 2.7% increase in the past seven days and a 10% increase in the past month. With a market capitalization of over $733 billion, Bitcoin remains the largest cryptocurrency in the sector.

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