Bitcoin Mining Difficulty Increased

Recently, some governments continue to take some restrictive decisions on Bitcoin and cryptocurrency mining. Although governments impose restrictions on Bitcoin and cryptocurrency mining activities, the number of these activities continues to increase around the world. Bitcoin mining activities around the world accelerated again, especially with cryptocurrencies, which made a relatively good start to 2023. This situation also affected the Bitcoin mining difficulty.

Bitcoin Mining Difficulty Increases by 9.95%

According to the information transferred, the mining difficulty in the leading cryptocurrency Bitcoin increased by 9.95% after the last adjustments. This increase in difficulty is thought to be related to the Bitcoin mining machine, which has increased in connection with the recently rising Bitcoin price. Bitcoin mining difficulty or cryptocurrency mining difficulty refers to the complexity of the computational process used in mining. Making a statement on the subject, Luxor COO Ethan Vera used the following statements:

“With the introduction of more efficient machines, electricity usage rates are falling and Bitcoin mining activity is also increasing with Bitcoin price and sequential transaction fees following other positive developments.”