Bitcoin mining difficulty has set a new historical record. As a result of the next recalculation on February 25, it updated the maximum, increasing by 9.95%, to 43.05 T, according to BTC.com. The previous record was set on January 29, when the difficulty reached 39.35 T.
Bitcoin mining difficulty changes every 2016 blocks, or roughly every two weeks. It rises following the growth of computing power. This is necessary so that the average block time is about 10 minutes. The next change in mining difficulty will occur around March 11, it should make bitcoin mining even more difficult: the expected figure is 43.08T (+0.06%).
The average block acquisition time is now 9 minutes 6 seconds. The average bitcoin hash rate (total computing power of equipment that produces cryptocurrency) at the current difficulty is expected to be 308.09 EH / s, which also became the maximum value. The previous high of the average hash rate was 281.67 EH/s on January 29th.
The complexity of mining and the hashrate of the bitcoin network increase following the growth of the asset price, the extraction of which becomes more profitable. Since the beginning of the year, the price of BTC has grown by 42% from $16.5 thousand to $23.4 thousand. Over the past day, the first cryptocurrency has risen in price by 1.3%.