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