Bitcoin mining difficulty rose by 4.69%

Following another adjustment, the mining difficulty of the first cryptocurrency rose by 4.69% to 22.67 trillion hashes (T).

The metric has risen for the ninth consecutive period after a decline tied to the mining ban in China.

The difficulty rose to its peak in mid-May — 25.05 T. Actions by Chinese authorities led to a drop in hashrate as a result of massive shutdown of mining equipment in the country, and the metric also moved lower.

The fall in early July was record-setting, when the difficulty fell by almost 28%. As a result of the next adjustment the metric decreased by a further 4.8%, but then moved higher on the back of a recovery in hashrate.

Earlier in August, the United States displaced China from the lead in Bitcoin’s share of hashrate, according to the Cambridge Centre for Alternative Finance.

China’s mining dominance had ended in March — before their exit from the country.

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