Bitcoin Mining Difficulty Reaches New High

The latest recalibration has seen the difficulty of mining the premier cryptocurrency rise by 8.24%, setting a new record at 81.7 T.

The average hash rate since the last adjustment was 583.92 EH/s, with the interval between blocks being just under 10 minutes.

On February 7, the smoothed 7-day moving average reached 597 EH/s. At the time of writing, it stands at 560 EH/s.

According to Hashrate Index, the hash price is $0.08417 per TH.

Earlier in February, Bitcoin miners’ reserves dropped to July 2021 levels.

Analysts at Bitfinex note that miners are incentivized to sell in order to upgrade their infrastructure in preparation for the upcoming halving.