{"id":12462,"date":"2024-04-11T13:27:06","date_gmt":"2024-04-11T10:27:06","guid":{"rendered":"https:\/\/forklog.com\/en\/bitcoin-mining-difficulty-reaches-new-peak-ahead-of-halving\/"},"modified":"2024-04-11T13:27:06","modified_gmt":"2024-04-11T10:27:06","slug":"bitcoin-mining-difficulty-reaches-new-peak-ahead-of-halving","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoin-mining-difficulty-reaches-new-peak-ahead-of-halving\/","title":{"rendered":"Bitcoin Mining Difficulty Reaches New Peak Ahead of Halving"},"content":{"rendered":"

The latest recalibration has seen the difficulty of mining the leading cryptocurrency rise by 3.92%, setting a new high at 86.39 T.<\/p>\n

\"Difficulty-BitcoinBTC-BTC.com-Professional-Data-Service-for-Global-Blockchain-Enthusiasts-Google-Chrome-1\"
Source: BTC.com<\/a>.<\/figcaption><\/figure>\n

The average hash rate since the previous adjustment was 705.39 EH\/s. The interval between blocks has shortened to less than nine minutes, compared to the protocol’s intended 10 minutes.<\/p>\n

According to Glassnode<\/a>, the network’s computational power, smoothed by a 7-day moving average, reached a peak of 630.8 EH\/s on March 11. After a period of correction, it has once again approached this record level, currently standing at 629.12 EH\/s.<\/p>\n

\"glassnode-studio_bitcoin-mean-hash-rate-7d-moving-average-11\"
Source: Glassnode.<\/figcaption><\/figure>\n

This difficulty adjustment is the last before the anticipated Bitcoin halving on April 20.<\/p>\n

The halving, which reduces the reward by half, has historically led to a decrease in hash rate as miners shut down unprofitable equipment to avoid losses.<\/p>\n

Experts at Galaxy Digital have estimated a potential reduction in capacity of 15-20%<\/a>. Jaran Mellerud, co-founder of Hashlabs Mining, believes the hash rate could drop by 5-10%.<\/p>\n

His former colleagues at Hashrate Index are more optimistic<\/a>, predicting a decline of 3-7%.<\/p>\n

According to the service, as of April 11, the hashprice<\/span> reached a weekly high of $113.5 per PH per day.<\/p>\n

\"Bitcoin-Network-Data-Google-Chrome-2\"
Source: Hashrate Index<\/a>.<\/figcaption><\/figure>\n

The indicator rose alongside Bitcoin’s price recovery to levels above $70,000 (CoinGecko<\/a>). The cryptocurrency recently fell below $68,000 amid the release of U.S. consumer inflation data.<\/p>\n

Earlier, Fred Thiel, head of mining company Marathon, expressed confidence that the upcoming halving is already factored into Bitcoin’s price.<\/p>\n","protected":false},"excerpt":{"rendered":"

The latest recalibration has seen the difficulty of mining the leading cryptocurrency rise by 3.92%, setting a new high at 86.39 T. Source: BTC.com. The average hash rate since the previous adjustment was 705.39 EH\/s. The interval between blocks has shortened to less than nine minutes, compared to the protocol’s intended 10 minutes. According to […]<\/p>\n","protected":false},"author":1,"featured_media":12461,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1137,1279],"class_list":["post-12462","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-mining","tag-hashrate-2"],"aioseo_notices":[],"amp_enabled":true,"views":"1","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/12462","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=12462"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/12462\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/12461"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=12462"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=12462"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=12462"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}