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The Mining Difficulty of Bitcoin Has Reached an All-Time High

Bitcoin network’s processing power has continued its upward trend and on February 15th, 2022, it recorded a new all-time high of 249 exahashper second (EH/s). This latest ATH increased the mining difficulty of the network. On Thursday morning, the difficulty had increased by 4.78%, which brought it to a value of 27.97 trillion. Since November 28th, 2021, there has been an increase in the mining difficulty of the network for the sixth consecutive time. This means that it has become 23.34% harder for Bitcoin miners to mine the block rewards. After hitting a new all-time high value on Tuesday, the hash rate of the Bitcoin network had declined to 212.21 EH/s.

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