Bitcoin Mining Difficulty Hits All-Time High Of 92.67 Trillion As Hash Rate Surges
Portfolio Pulse from Murtuza Merchant
Bitcoin mining difficulty has reached a new all-time high of 92.67 trillion due to a surge in hash rate, which hit 693.84 EH/s. This increase follows Bitcoin's fourth halving event, which reduced block rewards and impacted miners' revenue. Despite challenges, U.S.-based public miners are expanding capacity, contributing to the hash rate rise.
September 11, 2024 | 6:39 pm
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Bitcoin's mining difficulty has reached a new peak due to a surge in hash rate, despite reduced miner revenues post-halving. U.S. miners are expanding capacity, impacting Bitcoin's market dynamics.
The increase in mining difficulty and hash rate indicates strong network security and miner confidence, which can positively influence Bitcoin's price. U.S. miners expanding capacity suggests a competitive mining environment, potentially stabilizing or increasing Bitcoin's value.
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