At the last recount, the Bitcoin mining difficulty increased by 8.45%

Crypto News | Cryptocurrencies | Cryptocurrency Mining

After another recount, the complexity of mining Bitcoin increased by 8.45%. This is the maximum growth since September last year.

The Bitcoin mining difficulty after the last recount increased from 14,715,214,060,656 to 15,958,652,328,578, or by 8.45%. The next recount is also expected to increase mining difficulty by about 8.5%.

The last time such values could be observed in September last year, when the complexity increased by 10.38%. During recalculation on April 8, complexity also increased by 5.77%. However, before this, on March 26, one of the largest reductions in complexity in the entire history of the existence of cryptocurrency was recorded, amounting to 15.95%. The reason for this was the collapse of the cost of bitcoin below $ 4000, because of which the least efficient miners were forced to leave the business.

Bitcoin mining difficulty is recalculated every two weeks (2016 blocks). This is necessary so that the creation time of a new block approaches the average value of 10 minutes. When recalculating complexity, new network capacities or their loss are taken into account. The higher the hash rate of the network, the higher the complexity and vice versa.

The bitcoin hash of the network today is close to historical highs and amounts to 111.76 Eh / s.

After about three weeks, the reward for the mined block in the Bitcoin network will decrease from 12.5 to 6.25 BTC. And this means that before this event there will be another recount. According to BTC.com forecasts, in two weeks the complexity will increase by about 8.5%.

Thus, even before the block reward is halved, the complexity of mining will reach such high values that miners who still have outdated equipment and those who have no reserves and today are balancing on the brink of self-sufficiency forced to capitulate. Immediately after halving the reward, a significant decrease in the hashrate and complexity of the network is expected, and a new slow ascent will begin after it.