The Bitcoin network recently achieved a noteworthy milestone in its mining difficulty, specifically with a significant adjustment recorded at block height 818,496. According to data from the Bitcoin Blockchain Explorer, there was a 5.07% increase in mining difficulty, reaching a new peak of 67.96 tera-hashes per second.
Chinese reporter Colin Wu highlighted this development in a recent statement on the X platform.
This adjustment signifies a 5.07% increase in the challenge of mining new blocks compared to the previous adjustment on November 12. The surge in network hash rate, measuring the total computing power dedicated to Bitcoin mining, is evident. As per Bitcoin Explorer, the current average hash rate for the entire network stands at 504.8 exa-hashes per second (EH/s), a rise from 486.50 EH/s recorded two weeks ago.
It’s crucial to understand that mining difficulty adjustments are routine, occurring approximately every 10 minutes for Bitcoin, to maintain a consistent block addition rate to the blockchain. The adjustments respond to changes in the number of miners joining or leaving the network.
A higher hash rate adds to the complexity of mining new blocks, as it amplifies competition to solve the cryptographic puzzle essential for block creation. Notably, the next Bitcoin mining difficulty adjustment is scheduled for December 10, at block height 820,512.
Earlier this month, the Bitcoin network experienced a significant temporary disruption in block production, characterized by a notable pause lasting over an hour. According to Bitcoin’s dedicated blockchain explorer, on November 7, there was a delay, with the network not producing a block between 16:47 and 17:56 (UTC+8).