Bitcoin mining difficulty reaches 16.55TH/s, a record high

According to BTC.com, the value of "digital gold" Bitcoin has been shrinking significantly since March 8, and today the price of Bitcoin fell another 15.75%, or $7,835.68. Many analysts and traders believe that now is the best time to buy Bitcoin at a low price.

Bitcoin prices have fluctuated greatly this year. In the past three months, Bitcoin has experienced ups and downs and then stabilized briefly, but this time Bitcoin has fallen to the bottom again. At the same time, Bitcoin mining difficulty (hash rate) has continued to rise in the past three months.

Before the end of December 2019, the stable hash rate made Bitcoin mining difficulty optimistic. However, according to data provided by BTC.com, the mining difficulty has now reached an all-time high of 16.55TH/s, with a difficulty increase of 6.88%.

It is estimated that this difficulty upgrade will increase the mining difficulty to 17.71TH/s, making it more difficult for miners to verify new blocks.

As hash rates continue to rise, a market observer recently pointed out that the following four mining pools have the largest hash rate values: Antpool, BTC-com, Poolin and F2Pool. The combined hash rate of the above four mining pools exceeds half of all mining pools.

As of now, Antpool accounts for 9.9% of the hash rate, BTC.com accounts for 12.8%, Poolin accounts for 16.6%, and F2Pool accounts for the largest 18.5%.

Compiled by: Lin Shihao

Image source: Pixabay

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