On Saturday, the Bitcoin network experienced its first difficulty reduction of the year, witnessing a 3.9% decrease at block height 826,560. As a result, the network’s mining difficulty now stands at 70.34 trillion, with the next adjustment anticipated on Feb. 4, 2024.
Bitcoin Difficulty Slips to 70.34 Trillion, Lightening Load for Miners
Mining bitcoin (BTC), the leading crypto asset in terms of market capitalization, has become slightly more feasible for miners following this recent difficulty modification. This change took place on Jan. 20, 2024, at block height 826,560, rendering the process of discovering a block reward 3.9% less challenging than during the preceding two weeks. Previously, the difficulty level was pegged at 73.19 trillion, but it has now declined to the present figure of 70.34 trillion.
The current difficulty of 70.34 trillion defines the maximum threshold for the hash of a block to be deemed valid. In essence, when the difficulty is set at 70.34 trillion, it i
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