BTC Mining Difficulty Touches Record High, Crosses Seventeen Trillion USD

The hash rate and mining difficulty of Bitcoin have increased significantly post halving concavities to hit new all-time highs. The development takes place just 2 months after the Bitcoin halving event.

Ensuing last week’s record-high BTC hash rate, the up-to-date difficulty tuning witnessed a variation of around ten percent, taking the difficulty level to a new all-time high of over seventeen trillion USD on 13th July.

Regardless of a dearth of recent noteworthy Bitcoin price action, the fundamentals safeguarding the network are as strong as they have ever been. This is more positive news for investors anxious about a prior decline in hash rate and mining difficulty subsequent to May’s 3rd reward halving event.

Some analysts anticipated that the Bitcoin reward halving would lead to mass retreat from loss making miners.

There was a substantial decline in hash rate instantly after the halving, followed by 2 noteworthy falls in the mining difficulty. However, an upwards difficulty tuning of approximately fifteen percent last month almost overturned the preceding 2 declines on its own.

With both hash rate and difficulty presently at historic highs, any apprehensions around the bearing of the halving now appear to have been established baseless.