On May 18, 2023, at block height 790,272, Bitcoin’s difficulty reached an all-time high after rising 3.22% on Thursday. The network’s difficulty is now at an impressive 49.55 trillion, or 0.90% away from 50 trillion hashes, making it the most difficult it has ever been to discover a block reward.
Bitcoin’s Difficulty Rises to Uncharted Territory, Straining Miners
This year, Bitcoin once again broke a record as the network’s difficulty jumped by 3.22%, rising to an unprecedented height of 49.55 trillion. The network’s difficulty is a measure of how hard it is to find a hash value that meets the required criteria for a new block to be added to the Bitcoin blockchain. Notably, the recent rise in difficulty followed a 1.45% drop at block height 788,256, where the chain’s difficulty remained at 48.01 trillion for approximately two weeks.
Bitcoin miners are currently dedicating 363.84 exahash per second (EH/s) toward the Bitcoin blockchain. The latest increase of 3.22% hap
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