Satoshi

Foundry

Bitcoin

In a striking conclusion to 2023, Bitcoin underwent its 27th and final difficulty adjustment, culminating in a formidable 74% rise in mining challenges. This year's journey was marked by 27 dynamic adjustments, with a historic surge of 10.26% in network difficulty observed on January 15 at block 772,128, according to <a href="https://news.bitcoin.com/bitcoin-closes-2023-with-27-dynamic-difficulty-adjustments-netting-a-74-rise-in-mining-challenges/">Bitcoin.com</a>. 
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The pattern of adjustments in 2023 showed 20 increases and 7 decreases in difficulty. The most significant increase was the 10.26% hike in January, while the smallest uptick was a modest 0.12% in August at block 802,368. The largest drop occurred at the beginning of the year, a 3.59% decrease, with the most minor reduction being 0.49% in February at block 776,160. 
From the start of 2023, the difficulty level rose from 34.09 trillion to an astounding 72.01 trillion by year's end, a 37.92 trillion increase over 12 months. Cumulatively, the increases amounted to 89.35%, while the decreases totaled a 15.34% reduction, resulting in a net rise of 74.01% for the year. 
Amid these increasing challenges, <a href="https://ultramining.com/news/en/russias-bitcoin-gold-rush-mining-machine-influx-outpaces-rest-of-the-world/">Bitcoin miners</a> impressively added 311 exahash per second (EH/s) of SHA256 <a href="https://ultramining.com/news/en/impending-bitcoin-halving-may-trigger-major-hashrate-decline-say-experts/">hashrate</a>. Over the year, 54,035 BTC blocks were mined, with <a href="https://ultramining.com/en/ratings/foundry/">Foundry</a> USA mining 16,494 blocks, claiming 30.52% of the year's total block rewards. Antpool followed, securing 12,280 blocks or 22.73%, with over 40 other mining pools sharing the remaining blocks. 
Bitcoin's resilience and growth in 2023, despite the heightened difficulty, highlight its adaptability and the commitment of its community. The past year's momentum in hashrate underscores a continued evolution and dedication to securing the network, maintaining its critical role in the digital economy envisioned by Satoshi Nakamoto.&nbsp;

Bitcoin Difficulty Soars by 74% in 2023

Ultramining_Eng

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