Bitcoin Mining Difficulty Hits New All-Time High Following Record Network Hash Rate

Quick Take:

- Bitcoin mining difficulty jumped 3.6% to reach an all-time high of 92.7 trillion on Wednesday.

- This adjustment follows a record seven-day moving average hash rate of nearly 694 EH/s on Sunday.

Bitcoin mining difficulty rose by 3.6% on Wednesday morning, setting a new all-time high after the network's hash rate reached record levels over the weekend.

The difficulty adjustment occurred at block height 860,832, hitting a record 92.67 trillion, surpassing the previous peak of 90.67 trillion set at the end of July, according to blockchain explorer Mempool.

Bitcoin mining difficulty is a relative measure of how challenging it is to mine a new block compared to the easiest it could ever be. This difficulty adjusts automatically every 2016 blocks—roughly every two weeks—to ensure a new block is found approximately every 10 minutes, regardless of the number of miners. Higher difficulty means more computatio…