The difficulty of mining Bitcoin yesterday broke a new high, surpassing the previous high of October 2020 by 3%. With the surge in the course of the last few weeks, mining has become, for a while at least, a very profitable. Indeed, it will take a long time for infrastructure to develop and for computing power to adjust to the new bitcoin exchange rate. Yesterday’s record is therefore probably only the first in a long series to come.
Bitcoin mining difficulty, which measures the competitiveness of bitcoin miners racing on the network, increased by 10.79% around 15:30 UTC on Saturday to 20.65 trillion – the first time above the 20 trillion level.
Remember that the difficulty is a parameter that varies so as to maintain an average time of ten minutes between two blocks. This setting, updated automatically every 2016 blocks (approximately two weeks), may scale up or down to accommodate the hashing power of the network.