Bitcoin

Bitcoin's mining difficulty has surged to an unprecedented 83.95 trillion hashes, reflecting the increased competition among miners. This milestone coincides with <a href="https://ultramining.com/news/en/impending-bitcoin-halving-may-trigger-major-hashrate-decline-say-experts/">Bitcoin's price</a> reaching a new all-time high of $73,835. The rise in difficulty, a 5.8% jump from the previous measure, indicates a robust participation rate in the network, now operating at 613.94 exahashes per second (EH/s). Experts predict the difficulty could climb even higher, potentially reaching 84.17 trillion hashes by the end of March, according to <a href="https://www.cryptotimes.io/2024/03/15/bitcoin-mining-difficulty-hits-record-83-95-trillion-hashes/">Cryptotimes</a>. 
This significant increase in mining difficulty comes as Bitcoin's market value escalates, with mining rewards hitting $78.89 million on March 11, marking the highest point since October 2021. This peak in rewards aligns with the cryptocurrency's price surge, underscoring the growing interest and investment in Bitcoin mining operations. 
Analysts attribute this uptrend to the anticipation surrounding the upcoming Bitcoin <a href="https://ultramining.com/news/en/heat-waves-and-halving-bitcoin-miners-cash-in-amid-rising-prices/">halving</a> event in mid-April. The halving will reduce mining rewards from 6.25 BTC to 3.125 BTC, a change expected to influence Bitcoin's supply dynamics and investor sentiment significantly. Historically, such events have heightened market interest and led to substantial price movements.

Record-High Bitcoin Mining Difficulty and Price Surge

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