Bitcoin mining difficulty hits a new high, up more than 5.5%

As a result of another difficulty adjustment, the mining difficulty of the leading cryptocurrency rose by 5.56% and reached a record 29.79 T.

The percentage increase turned out to be the second-largest since the start of the year. On January 21, it rose by 9.32%.

The network’s average hash rate, with which the difficulty correlates, reached 213 EH/s in the period between recalculations.

According to Glassnode, as of April 27 the metric (smoothed 7-day moving average) surpassed 223 EH/s.

Since the summer 2021 downturn following the Chinese ban on mining, the hashrate has shown a trend of steady growth. Over the period since the beginning of August, negative difficulty corrections have occurred only four times. The maximum decline occurred twice at just 1.49%.

In August, the United States displaced the PRC from the top of the Bitcoin hashrate share rankings. In November, American Foundry USA surged to the lead among mining pools.

According to BTC.com, it continues to dominate with a 17.62% share.

Foundry USA’s clients include Hut 8, Bitfarms, CleanSpark or Bit Digital.

According to Arcane Research, the share of exchange-traded Bitcoin miners in the network’s hashrate reached 19%.