The Bitcoin (BTC) Proof-of-Work network mining difficulty changes every 2,016 blocks, or once per fortnight. But yesterday it experienced an unusually sharp surge.
New difficulty record
Amidst the severe Bitcoin (BTC) price drop that erased all of the crypto king's 2020 gains, the mining difficulty of its network set a new record. Yesterday it increased by roughly 7%, from 15.48 TH to 16.55 TH.
This number means that finding a new block has never been so difficult and, as such, the Bitcoin (BTC) network has never been so attack-resistant. This is due to the unmatched quantity if miners securing the integrity of the Bitcoin (BTC) network.
The previous ATH of 15.54 TH was registered between Feb 11, 2020 and Feb 25, 2020.
No sign of weakness
This record may be treated as an indicator of miner optimism. Despite profitability problems, they refuse to capitulate and unplug their mining gear.
As previously reported by U.Today, F2 Pool, a top-level mining team, warned the community that with the Bitcoin (BTC) price below $8,000, many ASICs are working very closely to break-even prices.
Some analysts interpreted the massive adjustment as a sign of the flagship blockchain's strength.
Subscribe to U.Today on Twitter and get involved in all top daily crypto news, stories and price predictions!