Bitcoin mining difficulty rose by 4.71% to 19.89 trillion hashes

As a result of the latest adjustment, Bitcoin mining difficulty rose by 4.71% to 19.89 trillion hashes.

Under the algorithm, the adjustment occurs every 2016 blocks, mined in roughly two weeks. The rise has continued for a sixth consecutive period.

After reaching in May 2021 a historic maximum of 25 T, the difficulty began to decline. This occurred amid negative hash-rate dynamics, with which the metric correlates. The main factor behind this was the Chinese authorities’ crackdown on mining.

By the end of June, Bitcoin’s network hashrate fell to July 2019 levels as equipment was switched off by Chinese miners. The difficulty showed a record drop of almost 28%.

The indicator moved into an uptrend at the end of July, together with a recovery in hash-rate as miners migrated from the PRC. Bitcoin’s hashrate reached record levels in April and has not yet recovered to those levels.

Also, Ethereum’s hash rate affected by the crackdown on mining in China reached a historic maximum in August.

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