Bitcoin mining difficulty hits a new record

As a result of another adjustment in mining difficulty for the first cryptocurrency, it rose by 21.53%, reaching a new high of 25 trillion hashes.

The percentage increase was the largest since June 2014.

After the previous adjustment, the difficulty fell by 12.61%. This occurred amid a considerable drop in Bitcoin’s hashrate, caused by power-supply problems at mining farms of leading Bitcoin mining pools in China.

As of writing, the total network hashrate stood at 179.25 EH/s, according to BTC.com. This is a new record.

BitinfoCharts provides a nearly identical level of the indicator — 179.6 EH/s.

According to Coin Metrics, the hashrate rose to these levels as early as the start of April. The company’s analysts introduced their methodology for calculating the metric in May 2020.

As Kraken analysts noted, all existing metrics diverge from the real situation, and they decided to develop their own tool for calculating the hashrate.