Bitcoin mining difficulty hits a new all-time high

As a result of yet another recalculation of Bitcoin mining difficulty, the metric rose by 3.6%, to 17.55 trillion hashes.

Data: btc.com

The previous all-time high for difficulty was observed in mid-July.

The rise in difficulty occurred amid a decline in the network hash rate. A week ago this metric rose to a new all-time high, but by Sunday, August 23, it had fallen to a monthly low of 119.4 EH/s.

Data: blockchain.com

Earlier reports indicated that the decline in hash rate of leading Bitcoin mining pools was driven by floods caused by heavy rains in China’s Sichuan province.

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