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Bitcoin records all-time high network difficulty amid price fluctuations

Published 01/23/2022, 12:32 AM
Updated 01/23/2022, 10:40 PM
© Reuters.

The Bitcoin (BTC) network has recorded a new all-time high mining difficulty of 26.643 trillion with an average hash rate of 190.71 exahash per second (EH/s) — signaling strong community support despite an ongoing bear market.

The Bitcoin network difficulty is determined by the overall computational power, which co-relates to the difficulty in confirming transactions and mining BTC. As evidenced by the blockchain.com data, the network difficulty saw a downfall between May and July 2021 due to various reasons including a blanket ban on crypto mining from China.

BTC network difficulty. Source: Blockchain.com.
Estimated BTC network difficulty in the next 12 days. Source: BTC.com.

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