In China’s ongoing crackdown on cryptocurrency mining, mining new bitcoins (Bitcoin) It continues to get easier because BTC has experienced another decline in mining difficulty.
On July 18, the Bitcoin network lowered the mining difficulty for the fourth time in a row. Drop According to data from the Bitcoin browser BTC.com, it is 4.8%.
The latest mining difficulty adjustment occurs in the block 691,488, Reducing the difficulty factor from 14.4 trillion to 13.7 trillion, which is the lowest level since June 2020. After reaching over 25 trillion on May 13, the difficulty index has almost halved in the past two months.
The latest Bitcoin mining adjustment was carried out after a series of consecutive difficulty drops, starting with a drop of nearly 16% on May 29. Further negative adjustments continued, with a drop of 5.3% on June 13 and a sharp drop of 28% on July 3—— Maximum mining difficulty decreased On the Bitcoin network.
Bitcoin mining difficulty is a measure of the difficulty of mining BTC blocks. The higher the difficulty, additional computing power is required to verify transactions and mine new coins. Bitcoin’s mining difficulty adjustment occurs every 2,016 blocks or approximately every two weeks because Bitcoin is programmed to adjust itself to maintain a target block time of 10 minutes.
Bitcoin mining difficulty continues to decline, right Continued relocation of miners out of China By one Crack down on cryptocurrency mining By local authorities.Continued difficulty reduction and decline Bitcoin hash rate and cut back Average BTC transaction fee.