tl;dr
Bitcoin mining difficulty has reached a historic high of 110 trillion after eight consecutive increases. This marks a significant milestone for the Bitcoin network, with the latest increase setting a new record. Despite market challenges, mining activity has shown a strong recovery, reflecting renew...
Bitcoin mining difficulty has reached a historic high of 110 trillion after eight consecutive increases. This marks a significant milestone for the Bitcoin network, with the latest increase setting a new record. Despite market challenges, mining activity has shown a strong recovery, reflecting renewed global interest in the cryptocurrency. Market experts anticipate this upward momentum to continue as miners remain active in capitalizing on the crypto's potential.
The Bitcoin network started the year with an impressive milestone as mining difficulty reached a historic peak. On Jan. 12, the network’s difficulty rose by 0.61%, setting a new record of 110.45 trillion at block height 878,976, according to CloverPool’s data. This latest increase extends a remarkable streak for the Bitcoin network, with mining difficulty rising for eight consecutive cycles. The last time such a prolonged upward trend occurred was in 2021, when nine consecutive positive adjustments occurred.
In 2024, Bitcoin mining underwent a significant transformation, with difficulty surging by nearly 50%. This growth pushed the metric past the 100 trillion mark, cementing a new benchmark for the industry. Of the 27 adjustments recorded during the year, 18 were positive, indicating a strong recovery in mining activity despite market challenges of the fourth halving event, which slashed miners’ reward to 3.125 BTC.
Meanwhile, market experts believe this upward momentum will continue as miners remain active and aim to capitalize on the renewed global interest in the top crypto.