Bitcoin (BTC) Mining Difficulty Has Gained New All Time High
- BTC mining difficulty is 39 trillion at the height of 774,286.
- The difference between mining and the actual cost of BTC is $2,567.
Bitcoin (BTC) price increase has brought jouissance to all sectors of crypto market players. The BTC miners are employing a huge amount of hashing power to mine a block. In the last 24 hrs, the BTC difficulty is 39,350,942,467,773 at the height of 774,286.
On the 29th of Jan, 2023, the BTC difficulty attained a new All Time High (ATH) with an 11.27% hike in the last 30 days. SHA-256 is the algorithm to evaluate the BTC difficulty. And the average time taken to create a BTC is around 9.36 minutes.
BTC Mining Difficulty
Bitcoin difficulty is a measure used to indicate the number of hashes the miner has to identify to develop a new BTC block. As the difficulty of the block increases the complexity to hack into the blockchain also increases. Keeping the system more secure and safe.
The calculation of the difficulty level is in accordance with the previous block and is termed a re-target block. The next difficulty date is estimated to be on Feb 11, 2023, with a difficulty level at 40.85 T, on an average 3.81% surge from the present. Along with this, block creation time is with 9.46 minutes estimate.
According to MacroMicro, a global data consolidator, the price of BTC has surpassed the mining cost. The cost of BTC mining peaked at $35,957.19 on 17th Apr 2021 and the current mining cost of BTC is $21,176.19. The difference between mining and the actual cost of BTC is $2,567. Leaving the BTC miners at profit with increased labor work.
Recommended For You
Read more: https://thenewscrypto.com/bitcoin-btc-mining-difficulty-has-gained-new-all-time-high/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
