Bitcoin miners are contending with the fifth network difficulty increase since February 24, 2023, following a 1.72% rise on April 20 at block height 786,240. The network’s difficulty now stands at 48.71 trillion, marking a 22.62% increase over the last 55 days since block height 778,176.
Bitcoin’s Difficulty Has Risen More Than 22% Since Block Height 778,176
In less than two months, Bitcoin’s difficulty surged by over 22% and reached an all-time high on Thursday, April 20. The current difficulty of 48.71 trillion implies an exceptionally high average hash rate necessary for mining a new block. Specifically, a miner would need an average hashrate of 48.71 trillion hashes per second to stand a chance of mining a BTC block and earning the associated rewards and transaction fees.
As of now, the network’s hashrate hovers around 352.99 exahash per second (EH/s). According to coinwarz.com data, the hashrate peaked at 440.80 EH/s on April 18 at block height 786,013. At present, with a
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