Bitcoin Mining Difficulty Reaches New Record High

After another adjustment on April 29, the complexity of Bitcoin mining increased to a historical maximum (29.794 T).

According to Blockchain.com, mining difficulty has broken a record for the second time in a month. The previous high was recorded in mid-April with 28.587 T.

It should be remembered that a higher mining difficulty requires even more computing power from cryptocurrency mining companies. At the same time, the risks of transaction manipulation are reduced.

As of May 2, the BTC hashrate was just over 220 EH/s. Computing power in the Bitcoin network has been growing since August 2021.

On the contrary, from May to July, the hashrate fell after the Chinese authorities started to force miners to leave the country after banning the activity in the country. As a result, the United States took the first place in terms of computing power.