Bitcoin mining difficulty has surpassed a record 29,7 T

The hashrate of the first cryptocurrency also reached a new high of 213 EH/s

28.04.2022 - 15:45

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1 min

What’s new? On April 27, bitcoin's mining difficulty increased by 5,56% and reached an all-time high of 29,79 T, according to BTC.com. Compared to last year's figures (23,58 T), the difficulty of mining the first cryptocurrency has increased by 20%. The bitcoin network's hashrate also reached a maximum of 213 EH/s.

Data from BTC.com

What are mining difficulty and hashrate? Mining difficulty defines the amount of computing power required to find a new block in the blockchain. The parameter changes every 2016 blocks, or about once every two weeks. Therefore, it takes about 10 minutes to find a block. Hashrate is the total processing power in the bitcoin network.

What had happened before? In March, IntoTheBlock reported that the number of addresses on the bitcoin network had grown to 40 million. The company’s analysts stated that 888 000 new addresses with balances in BTC had joined the network since the beginning of 2022. The accumulation of bitcoin has increased in recent months, although there is a noticeable gap between the number of holders of less than 1 BTC and those holding between 1 000 and 10 000 BTC.

According to the report by the analytical company Arcane Research, public companies account for 19% of bitcoin’s total hashrate. The analysts say that more and more mining companies are entering the stock exchanges. As of April 2022, there are 26 public companies that are engaged in bitcoin mining.

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