Bitcoin Mining Difficulty Hits New Record High

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The difficulty of mining the largest cryptocurrency in the market has increased by 9.32% as a result of the last recalculation, reaching a new high of 26.64 trillion hashes.

The previous record was set on May 13, 2021 at about 25.05 trillion hashes.

The 20% drop in Bitcoin’s hashrate that month, resulting from the power outages in the Chinese province of Sichuan, led to a decrease in the difficulty that correlated with it.

Then, the indicator continued to fall against the background of the persecution of mining in the country and the migration of the mining devices to other countries. As a result of one of the recalculations, a record reduction of almost 28% was recorded.

By the end of June, the hashrate fell to the level of July 2019 and showed signs of recovery after about a month. Then the difficulty started to increase.