Bitcoin Mining Difficulty reaches all-time high since 2018

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Bitcoin mining is the process of discovering new hash at a certain hash target level. Bitcoin is a leading cryptocurrency in the market with the largest market capacity. Bitcoin mining difficulty is the level of how hard it is to earn rewards for the mining process of Bitcoin. The global block difficulty for the Bitcoin is the reason why valid blocks of Bitcoin have a hash rate below the target rate.

The difficulty level of a block changes after every 2016 blocks that are discovered. High pricing of the mining equipment is one of the main reasons why mining has become difficult these days. The network used for mining automatically changes the difficulty level after every 10 minutes to ensure the discovery of new blocks.

The mining difficulty has almost doubled ever since bitcoin went down to $3400 in 2018. The difficulty level that was little less than 6T in 2018 has increased by 96% in 2019, and even with additional miners, it still keeps rising. This is the 4th time that the difficulty has increased in the past 2 months, reaching a new height of difficulty.

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Vineet Chaudhary
Vineet Chaudhary
Vineet Chaudhary is a content writer with computer applications as his background field. His interests range from writing and photography to going out for trips and rides on weekends.

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