Bitcoin mining difficulty hits a new high after a near-5% rise

As a result of another Bitcoin mining difficulty adjustment, the difficulty rose by 4.78% and reached a new all-time high of 26.97 trillion hashes (T).

Under the algorithm, the difficulty is recalculated every 2016 blocks (roughly two weeks). For the first time in this period, the average hashrate beat the 200 EH/s mark.

According to Glassnode, the network’s aggregate computational power (7-day smoothed moving average) stands at a record 214.7 EH/s.

The May 2021 level — before the crackdown on mining in China — had only been surpassed in January 2022. At that time the May record was first overtaken by the difficulty, reaching 26.64 T.

In terms of share of total Bitcoin hashrate, Foundry USA leads the pack at 17.13% (per BTC.com). The top three also include F2Pool and FntPool with 15.45% and 14.61%, respectively.

Foundry USA broke into the lead in November 2021.