According to data from BTC.com, Bitcoin’s mining difficulty has adjusted downwards by 5% at block height 850,752. This adjustment took place on July 5, 2024, at 11:21:13. With this change, the mining difficulty is now set at 79.50 T.
This drop in difficulty is noteworthy as it affects the effort required to mine new Bitcoin blocks. A decrease in difficulty typically means that there are fewer miners competing to solve the complex mathematical problems necessary to add new blocks to the blockchain. Various factors, such as market conditions, electricity costs, and the availability of mining hardware, can influence this trend.
The average network hash rate, which measures the total computational power used by the Bitcoin network, currently stands at 586.16 EH/s. This metric is crucial for assessing the network’s health and security. A higher hash rate indicates a more secure network, as it makes it more challenging and computationally expensive for malicious actors to launch an attack.
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