Bitcoin Mining Difficulty Exceeds 100T

On Monday, Bitcoin reached a new record mining difficulty of 101.65 trillion, putting pressure on smaller miners who may not have the same financial resources as publicly traded companies to maintain their operations.

Difficulty is a measure of how difficult it is to discover new blocks on the Bitcoin blockchain, and it automatically adjusts every two weeks.

This year, there have been 23 adjustments and 60% of the time, the adjustment has been positive, making the mining process even more challenging.

The higher the difficulty, the greater the strain on the mining industry.

As mining is an industry that requires a significant amount of capital and is highly competitive, smaller or private companies may need to sell their bitcoin earnings in order to fund their operations.