Bitcoin Mining Difficulty jumps to an All Time High

The difficulty currently stands at 30.98 trillion, which is just 0.27 below the all-time high (ATH) of 31.25 trillion at the Network Difficulty on May 10, 2022. Miners took a hit as Bitcoin’s dollar value dropped and difficulty increased by 9.26. %. In fact, the last three difficulty levels made it 11.63% harder to find a Bitcoin block reward before August 4th.

On August 4, at the block high of 747,936, Bitcoin’s mining difficulty increased by 1.74% and then increased by 0.63% two weeks later. Five days ago, Bitcoin.com News reported that the community was discussing the possibility that it would be difficult to see a noticeable increase. On August 25, Blocksbridge Consulting tweeted that it was expecting “a major leap in difficulty”.

Additionally, Bitcoin’s hashrate peaked at 282.21 exahash per second (EH / s) in the same week. The hashrate was about 3.35% lower than the all-time high (ATH) recorded on June 8, 2022, at block 739,928. At the time of writing, Bitcoin’s hashrate fluctuates at 236.33 EH / s.