Bitcoin Mining Difficulty Reaches New Peak

Following the latest adjustment, the difficulty of mining the leading cryptocurrency increased by 5.79%, setting a new all-time high at 83.95 T.

The average hash rate since the previous adjustment was 600.72 EH/s, with the interval between blocks at 9 minutes 27 seconds.

On March 11, the smoothed seven-day moving average reached 629.44 EH/s. At the time of writing, it stands at 626 EH/s.

According to Hashrate Index, the hash price is $0.11316 per TH.

In the past month, players involved in mining the leading cryptocurrency consumed a record 19.6 GW of electricity.

By early February, bitcoin miners’ reserves fell to July 2021 levels.

According to Bitfinex analysts, miners are motivated to sell in order to upgrade infrastructure in preparation for the upcoming halving.