BlockNews
  • Crypto
  • Finance
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
FOLLOW
BlockNews
  • Crypto
  • Finance
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
BlockNews

Bitcoin Mining Difficulty Hits Record High Following Halving

by Sham
April 24, 2024
in Crypto
A A
Bitcoin Mining Difficulty Hits Record High Following Halving
1
SHARES
Share on TwitterShare on Reddit
  • Bitcoin recently completed its first difficulty adjustment following the fourth halving, recording a 1.99% increase.
  • The network’s difficulty level rose from 8,639 trillion to a new level of 8,810 trillion.
  • The increasing trend in mining difficulty underscores the strength of Bitcoin’s network security while presenting significant challenges for miners.

The Bitcoin network just completed its first difficulty adjustment since the recent halving event, marking a new milestone for mining on the blockchain.

NEW: #Bitcoin mining difficulty rose to a new high of 88.10 trillion in its first adjustment post-halving

— BlockNews.com (@blocknewsdotcom) April 24, 2024

Difficulty Increases by 1.99%

On Wednesday, May 20th at 10:51 am EDT, block 840,672 was mined, which caused the difficulty to increase by 1.99%. This brought the difficulty to a new all-time high of 18,810 trillion. After the halving at block 840,000, it took 672 blocks for the network’s difficulty to adjust upwards to account for the reduced block rewards.

This means the hash of a new block now has to meet a much lower target value within the total possible hash range in order to be accepted, making mining more challenging.

Effects on Miners

The increasing difficulty presents miners with greater computational requirements to stay competitive. They will need to upgrade their equipment and find ways to improve efficiency.

This will impact miner profitability and could affect participation rates on the network going forward. After initially spiking above $180 per petahash per day, the hashprice had fallen to $74 just before the difficulty change.

Now back up to $92, miners are earning less per unit of computation than pre-halving rates of $100-$110 per petahash. With mining now more difficult than ever, their profit margins face additional squeezing.

Conclusion

While this poses challenges for miners, the rising difficulty also highlights the ongoing security of Bitcoin’s decentralized blockchain. As mining becomes more difficult, it requires greater investment and innovation from network participants to keep the system running smoothly.

Tags: BitcoinBitcoin MiningBlockchainHalving event
TweetShareShare

DON'T MISS THESE! HOT OFF THE PRESS

$VET Testing Key Support: A Break Out Here Could Spark a 50% Rally and Here is Why
Crypto

$VET Testing Key Support: A Break Out Here Could Spark a 50% Rally and Here is Why

May 28, 2025
Hedera Price Stabilizes: Is This the Calm Before a Major Rally?—Here are the Levels You Need to Watch
Crypto

Hedera Price Stabilizes: Is This the Calm Before a Major Rally?—Here are the Levels You Need to Watch

May 28, 2025
XRP vs XLM? Which Coin Has More 10x Potential in 2025 (THE TRUTH)
Crypto

XRP vs XLM? Which Coin Has More 10x Potential in 2025 (THE TRUTH)

May 28, 2025
Circle Freezes $57 Million in USDC Tied to LIBRA Team Amid Legal Dispute
Crypto

Circle Freezes $57 Million in USDC Tied to LIBRA Team Amid Legal Dispute

May 28, 2025
GameStop Makes First Move into Bitcoin with Massive $513M Investment: What’s Next?
Bitcoin

GameStop Makes First Move into Bitcoin with Massive $513M Investment: What’s Next?

May 28, 2025
Bitcoin Is Coming to Cardano—And It Could Change Everything
Bitcoin

Bitcoin Is Coming to Cardano—And It Could Change Everything

May 28, 2025
Load More

Related News

$VET Testing Key Support: A Break Out Here Could Spark a 50% Rally and Here is Why

$VET Testing Key Support: A Break Out Here Could Spark a 50% Rally and Here is Why

May 28, 2025
Hedera Price Stabilizes: Is This the Calm Before a Major Rally?—Here are the Levels You Need to Watch

Hedera Price Stabilizes: Is This the Calm Before a Major Rally?—Here are the Levels You Need to Watch

May 28, 2025
XRP vs XLM? Which Coin Has More 10x Potential in 2025 (THE TRUTH)

XRP vs XLM? Which Coin Has More 10x Potential in 2025 (THE TRUTH)

May 28, 2025
Circle Freezes $57 Million in USDC Tied to LIBRA Team Amid Legal Dispute

Circle Freezes $57 Million in USDC Tied to LIBRA Team Amid Legal Dispute

May 28, 2025
GameStop Makes First Move into Bitcoin with Massive $513M Investment: What’s Next?

GameStop Makes First Move into Bitcoin with Massive $513M Investment: What’s Next?

May 28, 2025
Discord Twitter Youtube TikTok Instagram

BLOCKNEWS.COM

BlockNews

BlockNews.com is your premier source for real-time cryptocurrency, blockchain, and financial market news.

Our mission is to deliver accurate, timely, and insightful information to help both seasoned investors and newcomers navigate the evolving digital economy.

With in-depth analysis, exclusive insights, and up-to-date news, BlockNews.com keeps you informed on the latest trends in crypto, DeFi, NFTs, tech, and beyond.

Stay ahead of the herd with BlockNews.com

RESOURCES

  • About
  • Contact Us
  • Terms and Conditions
  • Privacy Policy

POPULAR TOPICS

$ADA $XRP AI Avalanche Binance Bitcoin Bitcoin ETF blackrock Blockchain BTC Business Cardano China Coinbase Coinglass crypto cryptocurrency Crypto Exchange Crypto Regulation DeFi Dogecoin Donald Trump Elon Musk ETF eth ethereum Federal Reserve FTX grayscale Memecoin metaverse Microstrategy NFT NFTs PEPE ripple sec Shiba Inu Solana Stablecoin Technology twitter US Web3 xrp

GET QUICKER UPDATES ON X

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.

No Result
View All Result
  • Home
  • Crypto
  • Memecoins
  • Technology
  • Politics
  • Finance
  • NFT
  • DeFi
  • Opinion

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.