Bitcoin mining difficulty rose by 3.45% on Wednesday, reaching an all-time high.
- The Bitcoin mining difficulty reading at block height 753,984 was 32.05 trillion.
- The difficulty level, which changes every two weeks, has been increasing since Aug. 4. On May 11, it reached a high of 31.25 trillion.
- In Bitcoin mining, difficulty refers to the amount of work a miner would have to do in order to verify transactions in a block to add to the blockchain.
- The difficulty of mining is highly correlated with the mining hash rate – the amount of computing power used for mining.
- During the seven-day period ending Tuesday, Bitcoin’s hash rate averaged 232.1 exahashes per second, up from 222.7 exahashes on Aug. 31, when the previous difficulty adjustment took place.
- Bitcoin was trading at € 20,362 at 11:20 a.m. down 8.2% in the past 24 hours, according to data from bitdenex.com.