Bitcoin

Yesterday, the Bitcoin network underwent a minor adjustment in mining complexity, dropping by 1% to 67.31 trillion hashes. This modest change, while not dramatic, offers a slight relief for miners, as the reduced complexity eases pressure on them. However, the first cryptocurrency's price remains notably low compared to its peak values, according to <a href="https://hashtelegraph.com/ocherednaja-korrektirovka-slozhnost-majninga-snizilas-v-dekabre/" rel="noopener noreferrer nofollow">Hashtelegraph</a>.
Mining difficulty correlates with the network's <a href="https://ultramining.com/news/en/bitcoin-miners-set-for-a-tough-ride-as-2024-halving-nears-jp-morgan/" rel="noopener noreferrer nofollow">hash rate</a> and the duration taken to find previous blocks. Higher difficulty means lower mining profitability. The previous adjustment saw a 5% increase to a peak of 67.96 trillion hashes. October began with a marginal rise in mining complexity, reaching 57.32 trillion hashes, a 0.35% hike. September witnessed a 5.48% increase, while August saw a 6.17% rise to 55.6 trillion hashes. Conversely, June and July marked a decrease in complexity, with a notable 2.94% drop on July 26th.
A significant milestone occurred in July when miners surpassed 800,000 blocks, signaling only 40,000 blocks left until the next <a href="https://ultramining.com/news/en/heat-waves-and-halving-bitcoin-miners-cash-in-amid-rising-prices/" rel="noopener noreferrer nofollow">halving</a>. This event, occurring every four years or every 210,000 blocks, is eagerly anticipated for its potential to spur a Bitcoin price rally. The next halving, expected in mid-April 2024, is already the focus of intense speculation and anticipation among cryptocurrency enthusiasts.

Bitcoin Mining Complexity Dips Slightly, Offering Brief Respite to Miners

Ultramining_Eng

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