Bitcoin mining difficulty increased by 4.71%

October 18, 2021

Bitcoin mining difficulty increased by 4.71%

Bitcoin's mining complexity has increased by 4.71% to 19.89 trillion hashes (T) in another recalculation.

Difficulty - Bitcoin(BTC) - Professional Data Service for Global Blockchain Enthusiasts - Google Chrome
According to the algorithm, the recalculation occurs every 2016 blocks that are mined in about two weeks. The increase continues for the sixth consecutive period.

After reaching an all-time high of 25 T in May 2021, the difficulty started to decline. This was against a background of negative hash rate dynamics, with which the indicator correlates. 

The main factor in this was the crackdown on mining initiated by the Chinese authorities.What is hash rate and cryptocurrency mining complexity?By the end of June, the first cryptocurrency's processing capacity had dropped to July 2019 levels due to Chinese miners shutting down equipment. 

Complexity showed a record drop of almost 28%.

The figure shifted to an increase at the end of July along with the recovery of hash rates as miners migrated from the PRC. Bitcoin's computational capacity reached record highs in April and has yet to recover to those values.

As a reminder, Ethereum's hash rate, also hit by China's mining crackdown, hit an all-time high in August.

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About the author

Hi there, my name is Zalman Weinberg. I'm enthusiast with over 7 years of experience in cryptocurrencies and blockchain. Professional Trader providing Blockchain solutions to Startups and Enterprises. Expert in all cryptocurrency exchange APIs (BitMEX, Bittrex, Binance, Bitfinex, Kraken, Poloniex, Gdax etc.). I have also worked with multiple Forex broker APIs.

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