Bitcoin Mining Difficulty Hits Record High Pre-Halving

Bitcoin mining difficulty has reached a new all-time high of 86.4 trillion, setting the stage for the upcoming halving event.
Bitcoin Mining Difficulty Hits Record High Pre-Halving
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Key Takeaways

  • Bitcoin mining difficulty reaches a new peak of 86.4 trillion.
  • The upcoming halving event is set to cut miner rewards by half.
  • Analysts predict a 20% drop in the hash rate post-halving, however that has not happened after past halving events.

Bitcoin mining difficulty has surged to a record 86.4 trillion.

This marks a 3.4% increase from the previous level of 83 trillion, set on March 28.

Countdown to the halving

The halving, expected to occur in eight days, will reduce miner rewards by 50%.

The next mining difficulty adjustment is anticipated around April 24, following the halving event.

Hash rate and future predictions

The Bitcoin hash rate has risen to an estimated 630 EH/s, with some estimates claiming it to be near 700.0 EH/s.

Post-halving, analysts from Galaxy predict a potential 20% drop in the hash rate as miners adjust to reduced efficiency.

However, in the past, the hash rate has rarely dropped after the halving as miners are already aware of the event or shift towards cheaper locations to keep their hardware running.

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