Summary
- Bitcoin miner difficulty hits a new ATH at 90.67 T at block 855,882.
- The next Bitcoin difficulty adjustment is estimated to take place on August 15, 2024.
According to the latest reports coming from CoinWarz, Bitcoin miner difficulty hit a new ATH at 90.67 trillion at block 855,882.
Their data shows that there’s been a 0% increase in the past 24 hours.
The data provider notes that the next Bitcoin difficulty adjustment is estimated to take place on Aug 15, 2024, 01:47:19 AM UTC.
This will reportedly decrease the Bitcoin mining difficulty from 90.67 T to 86.35 T, which will take place in 918 blocks, about 6 days, 16 hours, and 39 minutes from now.
Growing Security and Competition
The new ATH in Bitcoin miner difficulty is an important milestone as it reflects the growing competition and security of the Bitcoin network.
Mining becomes more and more challenging and this only shows a higher participation and investment in the Bitcoin ecosystem. This will lead to greater stability and trust in the network, even amidst significant market volatility.
A new ATH in Bitcoin miner difficulty basically means that the network is stronger than ever.
What Is Bitcoin Miner Difficulty?
Bitcoin mining difficulty mirrors how difficult it will be to one the next block. This is a measure of how many hashes must be generated to find valid solutions to solve the next BTC block and earn the mining award.
The mining difficulty keeps the block generation in line with the set block time or the amount of time that should pass between each block.
As more hashing power is added to the Bitcoin mining network, the difficulty has to increase to make sure that blocks are not generated too quickly.
Bitcoin miners are currently running towards more and more innovative strategies to boost their revenue that has been slashed during the April halving event.
Regarding Bitcoin’s price today, at the moment of writing this article, BTC is trading above $57,000.