According to data from BTC.com, Bitcoin mining difficulty dropped 2.14% on Wednesday after hitting an all-time high in the previous adjustment on September 14. The data showed that the mining difficulty value, which marked the first decline in about two months, was 31.36 trillion at a block height of 756,000. The difficulty level, which changes roughly every two weeks, has been rising since its adjustment on August 4th. On September 14, it rose to a record high of 32.05 trillion.
Bitcoin mining difficulty is a measure of how hard a miner must work to validate transactions in a block in order to add it to the block chain or “mine” bitcoins. Such mining difficulty adjustments are closely related to changes in the mining hashrate – the level of computing power used for mining.
According to data from Blockchain.com, Bitcoin’s average seven-day hash rate was around 222.1 exahash per second on Wednesday, up from a seven-day average of 231.1 exahash on September 14, when the previous difficulty adjustment took place.
Bitcoin was trading at $19,345 Thursday at 3:20 pm in Hong Kong, up 3.5% in the past 24 hours, according to data from CoinMarketCap.
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