Bitcoin mining difficulty has increased by 0.51% after the latest adjustment, according to an update posted Sunday evening on BTC.com.
The network’s hash rate has fallen 3.8% since Nov. 6, the date of the last update to mining difficulty, according to data compiled by The Block Research.
Mining difficulty refers to the complexity of the computational process used in mining, and it adjusts about every two weeks (or every 2,016 blocks) in sync with the network’s hash rate.
The gain in difficulty, along with a slight decrease in an update earlier in the month, represented a slowdown after it rose by 3.4% and 13.6% in the two previous updates in October.
Some of the biggest Bitcoin mining companies have been struggling to stay solvent, with Core Scientific announcing that it would miss payments at the end of October. Argo Blockchain. meanwhile, is selling 3,843 mining machines for cash.
Source: The Block
