Bitcoin Mining Difficulty Drops as Miners Feel the Texas Heat | C

Bitcoin Mining Difficulty Drops as Miners Feel the Texas Heat

The bitcoin mining difficulty adjusts automatically every two weeks to keep the time needed to mine a new block roughly at 10 minutes. As more computing power gets plugged into the network, the difficulty adjusts higher, and as computing power gets pulled from the network.

The difficulty on Thursday fell 5% to roughly the same level it was back in March, data from mining pool BTC.com shows."The difficulty was reduced as American miners turned off their machines for significant periods over the past two weeks as electricity prices soared due to a heatwave," Jason Mellerud, a senior researcher at Arcane Research, said.It's the third consecutive decrease in mining difficulty and the first time this has happened since four straight declines.

Source

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