🔥 Bitcoin mining difficulty reaches a new high, pressure on miners doubles! 🔥
According to the latest data, Bitcoin (BTC) has experienced a mining difficulty adjustment at block height 883,008 (Beijing time today 17:33:07), with the difficulty increased by 5.61% to 114.17T, setting a new historical high! 💥
📊 Current mining data overview:
🔹 Average network hash rate over the past seven days: 814.56 EH/s
🔹 Estimated next mining difficulty: 114.16T
🚀 Why is the mining difficulty continuously soaring?
1️⃣ Fierce competition among miners: The increasing hash rate indicates that miners are still actively investing resources to compete for block rewards.
2️⃣ Institutions increasing investment: Large mining enterprises continue to upgrade mining equipment to enhance hash rate, driving up difficulty.
3️⃣ Long-term bullish market expectations: Despite short-term fluctuations in Bitcoin prices, miners remain optimistic about the future and continue to ramp up mining efforts.
⏳ Impact and outlook:
🔹 Rising costs for miners, small miners may face greater survival pressure;
🔹 Record high hash rate indicates stronger network security and higher decentralization;
🔹 Halving approaching (April 2024), miner income models will change, and the market may face a new round of volatility.
💡 What does this mean for investors?
👉 A new high in mining difficulty usually indicates increased market confidence in the long-term value of Bitcoin, and long-term holders (HODLers) may continue to accumulate!
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