Bitcoin Mining Difficulty Reaches New Record High

The Bitcoin network’s difficulty level – the average challenge for miners to create a block – hit an all-time high of 134.7 trillion on Friday. This rise marks a continued trend, despite expectations that it would decrease after August’s peak. Although Bitcoin’s hashrate (total mining power) dropped from over one trillion hashes per second recorded in August to 967 billion hashes per second according to CryptoQuant. 🏋️‍♂️ . This increase puts increased pressure on large mining firms operating with thin profit margins.