Bitcoin mining difficulty has hit a new record above 110 T

The indicator has been growing for eight consecutive recalculation cycles

13.01.2025 - 14:35

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What’s new? On January 12, the bitcoin mining difficulty increased by 0,61% overnight to a new record of 110,45 T at a block height of 878 976. The indicator has been growing for eight consecutive recalculation cycles, previously such a trend was observed in 2021: and then the growth continuously continued for nine cycles.

CloverPool data

The mining difficulty determines the amount of computing power it takes to find a new block in the blockchain. The parameter changes every 2016 blocks, or about once every two weeks. This ensures that the time it takes to find a block is around 10 minutes.

What else is known? Overall, the difficulty of the network has increased by 50% over 2024. Surpassing the 100 T mark is an important event for the industry.

Of the 27 adjustments recorded during the year, 18 were positive, indicating a significant recovery in activity among cryptocurrency mining participants, despite the problems experienced by the industry after the April halving.

This inherent event in bitcoin’s code halves the reward for mining a single block every four years since its launch, slowing issuance and reaching a maximum supply of 21 million coins. The fourth halving reduced the reward to 3,125 BTC.

The increased difficulty of mining, coupled with the reduced reward for mining blocks as a result of halving, results in lower revenue for industry participants.

Demand for industrial mining equipment and services in Russia has tripled in a year

The Industrial Mining Association noted that the adoption of the law regulating the circulation of digital currency contributed to the growth

The crypto community expects the upward momentum to continue as miners look to capitalize on the increased global interest in the first cryptocurrency following Donald Trump’s victory and the emergence of discussions about the need for strategic bitcoin reserves for nations and large companies.

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