HomeNewsCoindeskBTC Mining Difficulty Set to Reach Record High Amid Surging Hashrate

BTC Mining Difficulty Set to Reach Record High Amid Surging Hashrate

-



Bitcoin

mining difficulty is on track to reach a new all-time high sometime around midnight UTC in a sign of increased participation by miners that makes the blockchain more secure.

The adjustment is likely to finalize within the next 100 blocks, with projections showing the measure will rise about 4% to 126.95 trillion (T), eclipsing the current 123 T record. Difficulty was 109 T at the start of the year, according to Coinwarz.

The increase reflects growing long-term confidence in bitcoin’s value, even as on-chain activity and transaction fees remain low.

Difficulty is adjusted every 2,016 blocks, and is driven by the network hashrate, which measures the total computational power dedicated to securing the network. The hashrate’s seven-day moving average is now 918 exahashes per second (EH/s), having risen from 840 (EH/s) over the past two weeks. With previous peaks at 925 EH/s, any further increase would mark a new record high in hashrate.

Despite the increase in mining activity, transaction fees remain exceptionally low. A high-priority transaction currently requires only 2 satoshis per virtual byte (sat/vB), equating to roughly $0.30. The higher the fee, the faster a transaction will be confirmed, as miners prioritize transactions that pay more.

These figures suggest that while transaction demand on the Bitcoin network is subdued, mining power continues to scale to new heights, highlighting a divergence between usage and infrastructure growth.





Source link

News source: BTC Mining Difficulty Set to Reach Record High Amid Surging Hashrate
Read the full article and more directly from the source!

Enjoying our initiative? Support us with a BTC donation:
BTC Wallet: bc1q0faa2d4j9ezn29uuf7c57znsm5ueqwwfqw9gde

LATEST POSTS

The Value-For-Value Future Of Money And Work

When someone holds your funds, these days everyone recognizes the inherent risk: The custodian might misuse the money or fail to safeguard...

Actions Speak Louder Than Words

Let’s look at two things that Bitcoin Knots users claim to be proponents of and champions for in their crusade against Bitcoin...

B HODL Joins The Bitcoin Treasury Race With 100 Bitcoin Buy

The UK’s newest Bitcoin-focused public company wasted no time putting capital to work. Fresh off its debut on the Aquis Stock Exchange,...

Bitcoin Could Hit $1M If Banks Don’t Interfere

Coinbase CEO Brian Armstrong believes Bitcoin could reach $1 million per coin by the end of this decade — but only if policymakers hold...

Most Popular

spot_img