Bitcoin Mining Difficulty Reaches New Record High of 109.78 Trillion

The latest positive difficulty adjustment took place on Sunday. The widely tracked metric has increased by 1.16%.

Bitcoin mining difficulty hit a new record high on Sunday, rising by 1.16% to 109.78 trillion, according to data provided by CoinWarz.

The latest positive difficulty adjustment took place on Sunday. The metric, which adjusts roughly every two weeks, has now increased by 24% over the past 90 days and 52% since the start of the year.

The next difficulty adjustment is expected to take place on Jan. 14 and is likely to be a negative one. The mining difficulty is currently projected to plunge by more than 8% to around 100.7 trillion.

These difficulty adjustments are crucial to Bitcoin’s monetary policy, which was designed by ساتوشي ناكاموتو to ensure that the production of new coins does not significantly deviate from the target of six per block.

Meanwhile, Bitcoin’s hashrate, which measures the total computational power of the network, continues to reach new record highs.

According to data from Blockchain.com, the hashrate surpassed 800 EH/s for the first time on Dec. 15. This metric has been rising throughout the year and recently reached levels that are triple those seen in early 2021.

This remarkable increase in hashrate suggests that Bitcoin’s fundamentals remain strong, and some analysts believe that the cryptocurrency’s price tends to follow its hashrate based on past price action.

After reaching a new record high of $108,135 earlier this month, the cryptocurrency is now trading at $93,638 after slipping by more than 13%, according to CoinGecko.