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Bitcoin mining difficulty reaches new all-time high

bitcoin-mining-difficulty-all-time-high-2
Edited by
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Bitcoin mining difficulty reaches new all-time high

On March 14, the difficulty of Bitcoin mining reached a new historical maximum of 83.99 T.

BTC.com says the rate has increased by 5.79% since the last change date. The first cryptocurrency’s current mining hashrate has also reached its maximum, meaning that more participants have joined mining activity. Currently, the figure is 616.74 EH/s.

Bitcoin mining difficulty reaches new all-time high - 1
Source: BTC.com

The next recount will take place on March 27. The forecast is an increase of 0.07%, according to BTC.com. On March 1, the difficulty of Bitcoin (BTC) mining decreased by 2.9%. The complexity of mining determines the required total power of equipment for mining cryptocurrency. An increase in this indicator brings the halving date of the first cryptocurrency closer.

The BTC mining difficulty indicator began to grow actively in September 2023. Around that time, the price of Bitcoin rose above $30,000. It has always stayed below this level since then.

On March 14, BTC updated its all-time high (ATH) at $73,737. According to CoinGecko, Bitcoin’s value has increased by almost 46% over the past month.

At the time of writing, Bitcoin is trading at $71,885. Over the past 24 hours, the asset’s price decreased by 1.4%, and the daily trading volume decreased by 27% to $44 billion. The market value of BTC currently exceeds $1.4 trillion.

Bitcoin mining difficulty reaches new all-time high - 2
Source: CoinMarketCap

Open interest (OI) in Bitcoin futures trading on exchanges reached a new ATH of $33.9 billion on March 13. OI indicates increased market activity and trader sentiment regarding these assets.