Bitcoin Difficulty Jumps 3% As Hashrate Slowly Recovers
Summary
Bitcoin mining difficulty has increased by 3% in the latest adjustment due to a recovery in the hashrate. Mining difficulty is an automatic feature of the Bitcoin blockchain that regulates how challenging it is for miners to mine new blocks. A positive adjustment indicates that miners will find it harder to mine than in the previous two weeks. The adjustment mechanism exists to control the production rate of Bitcoin, preventing an oversupply that could negatively impact its price. The hashrate, representing total computing power used by miners, has been rising as miners reintroduce mining rigs after previously downsizing. Bitcoin's price briefly fell below $60,000 but has since recovered above that level.
